New port could boost investments of more than USD 15 billion in Peru

By Espinosa Bellido Abogados

The Private Investment Promotion Agency of Peru reported that the development of the new San Juan de Marcona Port Terminal project would reactivate investments of more than USD 15 billion in the south of the country and will impact economic growth and employment generation.

This multipurpose port project, declared of interest by the State, requires an investment of approximately USD 405 million and will benefit 29 provinces and 280 districts in the regions of Ica, Ayacucho, Apurimac, Cusco and Arequipa. 

Its implementation will reactivate at least nine iron, copper, zinc and molybdenum mining projects in the southern area. In addition, this public port will allow the development of new industrial, commercial and service projects in the area of influence linked to import and export activities. 

It will be the third largest port in the country, surpassed by El Callao and Chancay. In terms of tons of cargo, the Marcona Port has seen an average annual demand of 19 million tons and a potential of more than 40 million tons; while the ports of Callao (North Pier and South Pier) handled 35.7 million tons of cargo and Chancay expects 34 million tons of cargo, respectively.