After having signed an agreement with Cosco Shipping Ports Limited (CSPL), Peruvian company Volcan affirmed that the total investment of US$3 billion in Chancay Port Terminal will boost economic development in the central-northern area of the Inca country.
“The first stage of the project will be carried out in a 141-hectare area and with a US$1.3 billion investment (…),” Volcan said.
Likewise, the company indicated this project is composed of a multi-purpose port terminal, which includes a container terminal plus a terminal for bulk, general, and roll-on/roll-off cargo.
The accord was signed within the framework of the World Economic Forum in Davos.
Peruvian Vice-President Mercedes Araoz was present at the signing ceremony. On the occasion, she was joined by high-ranking Chinese authorities.
The agreements will enable carrying out the design, engineering development, construction, and operation of the Mega Port Complex of Chancay, through Chancay Port Terminals (TPCH), the project’s managing company.
It should be noted Volcan firm is one of the world’s biggest producers of zinc, lead, and silver. In the last few years, it has diversified its entrepreneurial activities by including sectors such as electric energy generation, as well as port and logistic businesses.
On the other hand, CSPL is a subsidiary of Cosco Shipping Group (owned by the Chinese Government). It is considered the globe’s biggest transnational company in the integrated port and shipping business.