Peru awards China's Jinzhao $405 million port construction contract (updated)

COSCO SHIPPING Ports

22/03/2024 22:18

(Adds port operation concession, Chinese companies in Peru,
other details, paragraphs 2-7)
       LIMA, March 22 (Reuters) - The Peruvian government said
on Friday that it has awarded a subsidiary of Chinese firm
Jinzhao a contract to build a port in the south of the Andean
nation, expected to require $405 million in investments.
    As part of the deal, Jinzhao Peru will receive a concession
to operate the port for 30 years, according to the head of state
investment agency Proinversion, Jose Salardi.
    With the project, Jinzhao will become the second Chinese
firm to build and operate a port in Peru, one of the world's top
copper producers.
    In the north of Peru, a subsidiary of Chinese firm Cosco
Shipping Ports is building a "megaport" set to kick off
operations at the end of this year.
    Jinzhao's port, in the southern region of Ica, is near its
Pampa de Pongo iron project, set to require a $2.34 billion
investment in its "pre-feasability stage."
    The port will transport bulk goods as well as iron
concentrate and copper, according to Proinversion.
    In total, it will reactivate mining projects worth $15
billion, Salardi said.

 (Reporting by Marco Aquino; Editing by Anthony Esposito and
Will Dunham)
 ((Kylie.Madry@thomsonreuters.com;))