Peru awards a $405 million contract to Chinese firm Jinzhao for the construction and 30-year operation of a new port in the south, aiming to enhance mining project transportation and stimulate $15 billion in mining investments.
Bollywoodfever, March, 22: On Friday, the Peruvian government announced the selection of Jinzhao, a subsidiary of a Chinese company, to construct a port in the country’s southern region, with the project slated to necessitate an investment of $405 million.
Under the agreement, Jinzhao Peru is to be granted a 30-year concession for the port’s operation, as stated by Jose Salardi, the director of Peru’s state investment agency Proinversion.
Salardi expressed hopes for the construction to start by late 2025 or early 2026, with the initial phase of the port expected to be operational within two years.
This initiative marks Jinzhao as the second Chinese enterprise to develop and manage a port in Peru, a leading copper exporter.
In Peru’s northern area, Cosco Shipping Ports, another Chinese company, is constructing a significant port scheduled to commence operations by the year’s end.
Located near Jinzhao’s Pampa de Pongo iron venture in Ica, the new port aims to support the transportation of bulk goods, including iron and copper concentrates.
Proinversion highlighted that the port is poised to rejuvenate mining projects valued at $15 billion.
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