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Peru Fin Min: Michiquillay, Salaverry Port projects to be awarded this year

Yanacocha is owned by Denver-based Newmont Mining Company

Yanacocha is owned by Denver-based Newmont Mining Company

18:00 | Lima, Jul. 6.

Economy and Finance Minister Fernando Zavala on Thursday said the Peruvian government plans to grant a concession for Michiquillay mining project (Cajamarca region), and that statement of interest for Salaverry Port will be available soon.

According to Zavala, who is also Prime Minister of Peru, the Amazon Waterway concession —granted under the Public-Private Partnership (PPP) scheme— marks the beginning of a series of investments.

"We expect to award over US$3 billion [US$4 billion according to ProInversion] in projects by the end of the year, and about US$9 billion [US$10 billion according to ProInversion] in 2018," he was quoted as saying.

Zavala believes at least 12 projects will be awarded in 2017.

One of the initiatives for this year is Michiquillay mining project, and another project at advanced stage is Salaverry Port.

"We need to promote concessions of this kind and stimulate the extractive industry so as to see rapid growth of 4% and 5%, the one Peru deserves," he underlined. 

Remarks were made following his participation at the Inter-American Development Bank's (IDB) forum on reconstruction experiences, held at Lima Convention Center.

(END) MDV/JJN/RMB

Published: 7/6/2017
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