Date: March 17
To date, more than US$1.9 billion have been executed out of an investment commitment of US$3 billion, a figure that will increase to more than US$3.5 billion with the incorporation of the recent APM Terminals addendum.
With an investment of more than US$1.9 billion, port infrastructure and services have been modernized in eight (8) ports under concession in Peru, between 2001 and 2022, through Public-Private Partnerships (PPP). These investments have sustained the rebound of our foreign trade during the last 20 years, especially of exports that increased from US$ 7,000 million in 2001 to the record figure of US$ 65,800 million in 2022, an increase nine (9) times higher than the initial figure.
According to a Ositran report, with data as of February 21, 2023, The largest investments made were registered in the Multipurpose North Terminal of the port of Callao (US$452 million), followed by the South Dock of the port of Callao (US$440 million), Matarani Port Terminal (US$290 million), Paita Port Terminal (US$260 million), General San Martín Port Terminal in Pisco (US$182 million) and the Salaverry Multipurpose Port Terminal (US$131 million), whose financing has been recognized as the Transaction of the Year 2022 in Latin America under the category of Ports by the London agency "Próximo".
The referential investments in the eight ports under concession through the PPP modality total US$ 3,000 million, and if we add to this amount the recent APM Terminals addendum, the total committed investments will exceed US$3.5 billion, and will be carried out as established by each concession contract. This will continue to promote the development of foreign trade and Peruvian exports.
Investments in ports have contributed to the increase in cargo traffic at the terminals. Average total traffic grew from 20.1 million tons before the concessions (in 2001) to more than 52.4 million tons as of November 2022, (according to Ositran figures)..
In the case of the port of Callao, traffic increased from an average of 14.6 million tons before the concession to more than 30 million tons after the concession. Port concessions through the PPP modality have also been reflected in improvements in port efficiency and productivity, generating lower costs for users and more space to accelerate their investments., allowing them to reach international markets in optimal time.
In the case of the new container terminal of the Port of Callao, the unloading withdrawal time was reduced by 20% (towards the end of 2019) and the hourly performance increased by 52.8%. For his part, in the Salaverry Multipurpose Port Terminal, in the first four years of concession, achieved a record of mobilization of agricultural products in vessels of up to 45 thousand tons per operation, and a 35% increase in productivity, generating significant savings in the foreign trade logistics chain.
New port products
The prospects for further investment in the concessioned ports are favourable, as are investments in new port terminals through PPP concessions. One of them is the new port of San Juan de Marcona, a self-sustaining private initiative that will require an investment of close to US$520 million. It is being structured in Proinversión and it is expected to be awarded, if no interested third parties appear, in the last quarter of 2023.
The port of San Juan de Marcona consists of the construction of a new port terminal for public use with international standards, specialized in providing storage and shipping services for iron and copper concentrates; serving up to 47 million metric tons of minerals and inputs from the main mining projects in the southern part of the country.
There is also the private initiative to modernize the Port of Chimbote, the last port project that entered the Proinversión portfolio in February. The project will require an investment of close to US$180 million for the modernization of port infrastructure and services that will allow the mobilization of products such as fishmeal, minerals, and agro-industrial production.
In that sense, there is a renewed interest in making Peruvian ports very competitive at a national and international level, positioning Peru as a hub in South America, even more so with the incorporation of the mega port of Chancay (Lima) that is currently under construction, with an investment of US$ 3,000 million.
Source: La Republica