Peru promotes $844 million Corio port as US, Chinese, Indian firms show interest

Peru has begun promoting a planned US$844 million deep-water port in the southern region of Arequipa after several foreign investors, including Chinese companies, expressed interest in the project, the regional governor said.

The Corio terminal is being pitched as an alternative to Chancay, but it has yet to secure an investor or operator. The port plan was scaled back from US$7 billion to US$844 million.

Investors from four countries show interest

“Several companies have approached us. We have investors from the US, China and India who are very interested,” Rohel Sanchez, the governor of Arequipa, told reporters.

Sanchez spoke after signing an agreement with the state investment agency Proinversion, as the government began promoting the project abroad. He said firms from Turkey and the Netherlands had also been in touch.

South Korean investors have shown interest in technology for a logistics park that is planned alongside the terminal. The range of approaches indicates that interest is not limited to port construction alone, with potential investors also linked to logistics and technology.

Possible role in copper exports

Proinversion president Luis del Carpio said Corio would likely handle general cargo and containers. He added that the terminal could also be used to export copper from the region to Asia.

The project therefore combines a proposed deep-water terminal with cargo handling, container operations and a possible route for regional copper exports. However, the port still needs to secure both an investor and an operator before those plans can move forward.

Source: South China Morning Post