Cosco Shipping Ports, one of the largest companies in the People’s Republic of China (PRC), is making progress in the construction of the Chancay multipurpose port terminal, 80 kilometers north of the Peruvian capital, Lima. This infrastructure signifies an important Chinese presence and influence in Peru and throughout Latin America. The mega port will be one of the region’s priority points for the export of raw materials to the Asian country, including copper and other minerals, and because of its size and volume of business, it is destined to be a high-frequency center for international trade.
This project is a major investment, estimated at $3.6 billion, and a complex engineering effort that is already underway and one that the Peruvian government, according to the BBC, expects to attract about 50 percent of the nearly $580 billion in annual trade between China and South America. Its promoters, mainly the Chinese and Peruvian governments, have promised that it will boost development, employment and trade in the region, but critics have warned of its social impact and condemned the damage to the environment.
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Global Affairs – University of Navarra, Spain: El primer puerto de China en Latinoamérica se construye en Perú