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Date: March 13

The strategic megaport for trade with Asia that China is building in Peru continues its development. The construction of the new Chancay Multipurpose Port Terminal will allow Peru to become a power at the commercial level, since it will be the first logistics center in the South American Pacific. Its total investment amount will exceed US$ 3,600 million.

It is located in the coastal city of Huaral in Chancay Bay, 80 kilometers north of Lima. Its development is in charge of the Peruvian subsidiary of the Chinese Cosco Shipping Ports, one of the largest shipping companies in the world. As such, the project aims to become a regional hub and will redistribute cargo to other nearby countries such as Chile, Ecuador and Colombia.

In addition, it will receive the largest ships in the world, those that have the capacity to transport 18,000 containers, according to the Ministry of Transport and Communications (MTC). It will have a total extension of 992 hectares.

The Chancay megaport maintained a good construction pace during the last quarter of 2022. According to a report from the Volcan mining company —a shareholder of the subsidiary with a 40% stake—, the construction of the main breakwater exceeded 1.3 kilometers to 2.2 km between the third and fourth quarters, which would represent an advance of 83%. The start of its operations is expected between October and December 2024.

Chancay Megaport will turn Peru into the "Shanghai of South America"

On the other hand, the works of the secondary breakwater have already finished and the electrical substation —whose construction began in the third quarter of 2022— presents an advance of 32%. The construction of access roads and an underground tunnel have progressed by 40%, according to the company.

Regarding permits, the Ministry of Economy and Finance approved the pending authorizations for the discharge of industrial wastewater. This will allow the project to continue with the dredging process.

Thus, the work will have four berths, two for containers and two for multipurpose. In total there are 730,000 square meters of dock operations area. Likewise, it will have 270,000 m2 of integral auxiliary area in the entrance complex, which will have crane equipment.

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The megaport will be used for the output of raw materials such as copper and other minerals that the region exports to China; however, priority will be given to the country's agricultural products. With this, it will be conceived as a multipurpose work. Likewise, it is projected to receive and embark the largest ships in the world, those that have the capacity to transport 18,000 containers.

Source: Peru Retail