Chinese company to build $405 million dollar port in Peru

Photo: Wikimedia Commons.

The Peruvian subsidiary of the Chinese company Jinzhao is set to develop and build the New Port Terminal of San Juan de Marcona in southern Peru, after being awarded construction licensing for the project, worth an estimated US$450 million. 

The project, which will be financed and operated by Jinzhao Peru S.A. under a 30-year concession, seeks to facilitate the export of minerals and other products. This development will reactivate mining projects in the south of the country with investments estimated to reach up to US$15 billion.

The port of San Juan de Marcona, located in the Ica region of Peru, will become the third largest port in the country and allow the shipment of various products, including minerals such as copper and iron concentrates, as well as solid and liquid grains. In addition, it is expected to generate around 1,500 direct jobs.

Peru’s Minister of Economy, José Arista, highlighted the importance of the new infrastructure project, noting that the new terminal will reduce transportation costs by avoiding the movement of minerals to other regions for export. Arista also mentioned the progress in other infrastructure works, such as the mega-port of Chancay, built by a subsidiary of the Chinese company Cosco Shipping Ports, which is expected to be inaugurated by the end of the year and is projected as a port hub in the South American Pacific.

Arista also highlighted fellow Chineses infrastructure projects in place in Peru, such as the great peripheral ring road in the capital city of Lima, with an investment of US$3.4 billion and the generation of 10,000 direct jobs. Together, these projects reflect the Peruvian government’s drive towards economic development and the improvement of the country’s infrastructure.

Main source:

Perú otorga a china Jinzhao la construcción de puerto en el sur del país para exportar (2024, marzo 22).
https://www.larepublica.co/globoeconomia/peru-otorga-a-china-jinzhao-la-construccion-de-puerto-en-el-sur-del-pais-para-exportar-3827832

Ministro de Economía de Perú destaca adjudicación de puerto de Marcona a empresa china (2024, marzo 25) https://es.investing.com/news/forex-news/ministro-de-economia-de-peru-destaca-adjudicacion-de-puerto-de-marcona-a-empresa-china-2614798

Other related sources:

Swissinfo, (26 de marzo, 2024). https://www.swissinfo.ch/spa/ministro-de-econom%C3%ADa-de-per%C3%BA-destaca-adjudicaci%C3%B3n-de-puerto-de-marcona-a-empresa-china/74310983