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Peru calls halt on ports privatisation
01 Dec 2006
Proinversión, promoter of private sector investment in Peruvian companies, has temporarily halted the concession process covering the country's five main ports until a master development plan has been drawn up for each.
To date, Proinversión has awarded a 30-year concession at Callao, where Muelle Sur is now under private sector management. As part of this agreement, the concessionaire will contribute $144m to help improve other areas of the port.
Concessions covering operations at Paita and San Martín were scheduled to be awarded in the second quarter of 2007, followed by Ilo, Salaverry and Chimbote by the end of the year.In all,it is estimated that $500,000 will be needed to modernise all five ports, of which $300m will be accounted for by Callao.
