Peru to invest $549m to upgrade five ports

The Peruvian state port authority Enapu is to invest $549 million upgrading five ports in the country as it seeks to reduce export bottlenecks.

The five ports to be upgraded are the ports of Ilo, San Juan de Marcona, Salaverry on the pacific coast and Pucallpa and Iquitos on the Amazon river. Work is expected to be carried out later this year.

Local investment bank Credicorp Capital expects investment in the country’s ports to total $1.11 billion through 2022 with several major projects on the horizon. APM Terminals has previously announced plans to upgrade the Muelle Norte and Callao minerals piers at the Port of Callao while TPE plans to expand the Port of Paita in Piura, as well as the modernizing the ports of Pisco and Yurimaguas.

Peru exports the third largest volume of copper in the world expects to double annual copper output to 2.8Mt by 2017. As such it is a major source of revenue for the government and in anticipation of production growth authorities are keen to ensure port infrastructure can cope.

Originally posted at: http://portfinanceinternational.com/categories/emerging-economies/item/1938-peru-to-invest-$549m-to-upgrade-five-ports

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