Chancay Offshore (Hafen)

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Cosco Completes US$3bn Peru Port Deal

Hong Kong-based international port operator Cosco Shipping Ports has completed the equity transaction of project company responsible for its greenfield subsidiary at the Port of Chancay, Peru. With the equitytransaction of the Project Company was officially completed on 10 May 2019, Port of Chancay became the company’s first greenfield subsidiary in South America and COSCO Shipping Ports plans to developing the port to an important gateway port in South America.

$2.8 Bn port project planned in Peru

03/09/2014 A $2.8 billion port complex with 10 piers and a logistics center is planned for the Bay of Chancay, located 78 kilometers (48 miles) north of Lima, Peruvian officials said. The site for the planned port, which will be constructed with private capital, was inspected by Defense Minister Pedro Cateriano, Culture Minister Diana Alvarez and navy commander Adm. Carlos Tejeda. “As occurred in other successful cases, this strategic alliance between the state and the private sector seeks the concession of state properties to promote wealth (creation) and generate revenues for the government to consolidate the social inclusion policy,” the Defense Ministry said in a statement. The 10 piers will cost $1.6 billion and help reduce the shortages of port infrastructure in Peru, the ministry said. The Logistics Activity Zone project will cost approximately $1.2 billion. Terminales Portuarios Chancay will run the facility, which is expected to promote economic, commercial and industrial development in the region. Measures are being taken to protect the environment and cultural heritage sites in the area, the ministry said. “The Defense, Culture and Navy ministries have a firm interest in ensuring that these areas be fully respected,” the ministry said. The new port on the Bay of Chancay is expected to mainly handle minerals. Source: EFE