Irregularities confirmed in Paita and Callao concessions

In Paita, the existing concessionaire, Terminales Portuarios Euroandino, is said to not have been correctly registered, not have had sufficient capital to bid and not have met formal requirements set out in the tender process.

In the case of the APM Terminals bid at Callao, it was noted that the original $1.9bn investment offered became just $750m when the eventual contract document was drawn up.

In related news, the privatisation of the North Terminal container operation at the port of Callao has left the national ports company, Enapu, requiring a cash bail out.

The loss of its most important asset resulted in 90% drop in revenue, equivalent to $37.5m per year.