The
Central Reserve Bank (BCR) believes that the Port of Chancay will have an important effect on the Peruvian economy once it comes into operation at the end of this year.
However, it stressed the need to improve communication routes and urban development in the region.
"We still do not have an estimate (of its impact on the economy), but I think it will be important, although I do not dare to give a figure yet," Central Reserve Bank Governor Julio Velarde said during the presentation of the latest Inflation Report.
"We haven't done the analysis yet. All communication routes must be improved, and there should also be urban development in the area," he added.
The new Chancay Multipurpose Port Terminal, located in the district of the same name (Huaral province) 80 kilometers north of Metropolitan Lima, is a private investment project whose shareholders are the Chinese-owned company Cosco Shipping Ports Limited (CSPL), with a share of 60%, and Peru's Volcan Compañia Minera, with a share of 40%.
The Port of Chancay, whose works are 70% complete, will be a key maritime point for trade between South America and Asia, mainly China (Shanghai Port), because it will be a regional hub and will redistribute the cargo of Peru, Chile, Ecuador, and Colombia.
The executive indicated that the construction of the Port of Chancay generates 1,300 direct jobs and around 8,000 indirect jobs due to the economic dynamics observed in the area.
The design and construction project for the Port of Chancay has been developed since April 2011. The total investment is estimated at US$3.4 billion, of which US$1.315 billion will be executed in the first stage.
(END) CNA/JJN/RMB
Published: 3/18/2024