China announces series of investments in Peru

12:24 | Lima, Jun. 1.

China Ambassador to Peru Jia Guide on Friday announced that a wave of Chinese investments —worth US$10 billion— is coming to Peru, mainly to energy and mines, telecommunications, construction, and infrastructure sectors within the next three years.

"Peru-China strategic partnership makes further progress, thanks to coordination between the President (Martin Vizcarra) and the (Chinese) Head of State Xi Jinping, as well as the expansion of the One Belt, One Route initiative," he stated.

The Chinese diplomat named some examples of mining projects —slated for this year— announced by Energy and Mines Minister Francisco Ismodes, such as the expansion of Shougang, the second stage of Chinalco, and the Pampa de Pongo iron project.

"Additionally, Cosco —as the largest maritime and river transport company in the world— will contribute and manage Chancay project, with an initial investment of US$500 million and a total of US$10 billion in four cumulative phases," he explained.

Meanwhile, he continued, China Harbour Engineering Company Ltd. (CHEC) —a world-renowned international contractor— will construct a port in Ilo. 

According to Jia Guide, the People's Republic of China Government reaffirms its confidence in the sustainable development of Peru's economy and the cooperation between the two countries.

"We are willing to work with the Peruvian Government," the envoy said during the announcement of Junin-based Toromocho copper project's expansion at Lima's Government Palace.


Published: 6/1/2018