Located 80 kilometers from the capital, Lima, the port will be managed by Cosco, one of the largest logistics companies in the world; venture that promises to attract investments in excess of US$3 billion
The president of ,, will be at this Thursday (14) for the inauguration of the port of Chancay, a project that promises to attract investments in excess of US$ 3 billion. Located 80 kilometers from the capital, Lima, the port will be managed by Cosco, one of the largest logistics companies in the world, which had already invested US$1.3 billion in the project in 2019. Operation of the first phase is scheduled to begin later this month. This new port symbolizes the strengthening of relations between China and Latin America, with the Chinese presence expanding beyond the mining sector to also include areas such as surveillance technology. Peruvian President Dina Boluarte considers the project a significant opportunity, forecasting the creation of up to 8,000 jobs and an economic impact of US$4.5 billion annually.
According to Chinese experts, the new maritime route will provide a reduction in costs and reduce navigation time by approximately 20 days, which makes Peru an attractive location for investment by Chinese companies. However, China’s acquisition of the port generated controversy in the country, leading to discussions about possible changes to the terms of the investment agreement. The port of Chancay will join an extensive network of more than 40 ports that are part of the Belt and Road Initiative, an ambitious infrastructure project launched by Xi Jinping in 2013. During the visit, Xi and Boluarte are expected to formalize an agreement of expanded free trade, reinforcing China’s position as Peru’s main trading partner in the last decade.
Published by Sarah Paula
*Report produced with the help of AI
