The Chancay megaport, built with Chinese investment, inaugurated in Peru. The inauguration ceremony was attended by the country’s president, Dina Boluarte, and the president of the People’s Republic of China, Xi Jinping, TASS reports.
“The opening of the Port of Chancay represents a historic moment for Peru and for all Peruvians. With this megaproject we have marked the beginning of a transformation that will make our country a world-class logistics, technological and industrial center,” – Boluarte said on the spot.
In turn, Xi Jinping pointed out that the port “will strengthen Peru’s position as a land and maritime transport hub between Asia and Latin America.”
Previously, in an article published in the newspaper El Peruano, the head of the People’s Republic of China noted that the port of Chancay will shorten the maritime route from Peru to China by 23 days and will reduce logistics costs by 20% because it will not be necessary to transport goods from South America to Mexico. The infrastructure project is expected to generate $4.5 billion in annual revenue for Peru.
The participation of the Chinese logistics company COSCO Shipping in the project is 60%. The total investment is 3.4 billion dollars. The port, located 70 kilometers north of Lima, will be able to receive the largest existing container ships.
Before the opening ceremony, the leaders of the two countries held a bilateral meeting, which resulted in the signing of several agreements and memorandums, including a protocol on optimizing the free trade agreement. The parties also adopted a joint statement on deepening the comprehensive strategic partnership and a cooperation plan within the framework of the Silk Road Economic Belt initiative. In addition, Peruvian authorities said that China recognized the South American country as a foot-and-mouth disease-free zone, which will allow it to begin exporting meat to the Chinese market.
Xi Jinping is in Peru on a state visit, during which he will participate in the Asia-Pacific Economic Cooperation Forum summit in Lima.
