President Humala inaugurated irrigation works of the Olmos Project

Nov. 19 – The initiative will enable the irrigation of 38 thousand hectares of wasteland of the Valle Nuevo and 5,500 hectares of the Valle Viejo Santo Domingo de Olmos, a greater flow of diversified agro-industrial exports, and will generate more than 40 thousand direct jobs and 120 thousand indirect jobs.

The President of the Republic of Peru, Ollanta Humala Tasso, inaugurated the irrigation works of the Olmos Project, co-financed by CAF, Development Bank of Latin America, which will enable the irrigation of 43,500 hectares of wasteland in the Lambayeque Region, located in Northern Peru.

The Chief of State stated that with this project, 38,000 hectares of wasteland will be irrigated in the Valle Nuevo, auctioned and awarded to agro-industrial companies, as well as 5,500 hectares of Valle Viejo, owned by small farmers and the farming community of Santo Domingo de Olmos, significantly increasing the potential of these lands.

In addition, the President highlighted that this important project will enable a greater flow of diversified agro-industrial exports, and will generate more than 40 thousand direct jobs and 120 thousand indirect jobs in the northern area of the country.

President Humala stated, “This project will help cover the demand for agricultural products in the internal market and strengthen agricultural exports. In addition, it will involve highways, energy, technology, connectivity, and an industrial park. Lambayeque and Peru needed the Olmos Project. It is an accomplished task, a dream of decades materializing today. Generations have dreamt about this project, and today it is a dream come true”.

Eleonora Silva Pardo, CAF’s Director Representative in Peru, said that that the support of the multilateral financial institution goes back a decade, as it was precisely in November 2004 when the first loan was approved for the start of the Comprehensive Olmos Project.

Silva Pardo stated, “With respect to economic infrastructure, for CAF this has been one of the most important operations in Peru, as the total approved to make the Olmos Project a reality in Lambayeque reached USD 255 million for both the public and private sector. This operation reflects our commitment to support the country in promoting a national market economy that is open to the world, which makes growth with social inclusion a reality, as this project will enable a greater flow of diversified agro-industrial exports and will generate more than 160 thousand direct and indirect jobs”.

In addition, Silva Pardo highlighted that CAF supports the Ministry of Production in the development of an Industrial Park in the area, and the Ministry of Housing, Construction, and Sanitation for the Comprehensive Planning of the Design and Land Use of the Charles Sutton new city of Olmos, in order to address the increase of population resulting from the development of the area. This city will have a residential area, basic services, green areas, recreation and protection, roads, and public spaces.

The Comprehensive Olmos Project included the transfer of waters from the Huancabamba River from the Atlantic watershed toward the Pacific watershed through the Andes Mountains, by way of a Trans-Andean Tunnel to take advantage of the water resource for the hydroelectric and agricultural development  of the Pampas and the Olmo Valley.

Source: CAF, Development Bank of Latin America http://www.caf.com/en/currently/news/2014/11/president-humala-inaugurated-irrigation-works-of-the-olmos-project

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