Peru Fin Min: US$9.1 billion investment projects activated this year

09:08 | Lima, Nov. 9.

So far in 2018, seven investment projects have been activated worth US$9.116 billion; five of them are linked to mining and the other two to the infrastructure sector, Economy and Finance Ministry (MEF) has informed.

MEF Macroeconomic Projections and Scenarios Director Wilder Ramirez claimed mining has contributed US$8.755 billion in investments through Quellaveco (US$5.3 billion), Mina Justa (US$1.6 billion), Toromocho's expansion (US$1.35 billion), Quecher Main (US$300 million), and B2 tailings in San Rafael (US$200 million).

As for infrastructure (US$361 million), he announced the start of construction works at San Martin Port terminal in Ica (US$241 million) and Peru's Amazon waterway (US$112 million).

"The dynamism in private investment gives us a lot of optimism about new investment growth estimates for 2019 and 2020," he stated.

Next year

Likewise, Ramirez affirmed five infrastructure projects are expected to be activated by 2019. They entail an investment of US$2.88 billion.

Modernization projects at Jorge Chavez International Airport (US$1.5 billion) will be activated in 2019. 

Other projects include the first broadband package aimed at seven regions (US$538 million), the second package aimed at six regions (US$359 million), PTAR Titicaca (US$262 million), and the Salaverry port terminal (US$229 million).

On the other hand, growth estimates for this year remain at 4%, despite the economic slowdown in the third quarter, due to the momentum expected for late 2018.

"Leading indicators give us confidence Peru can expand by over 4% during the fourth quarter, and thus end the year growing around 4%," he emphasized.


Published: 11/9/2018