SOUTH AMERICA

Peru to attract more port investment

10 years ago

In Peru, the Transport and Communications Minister, Martín Vizcarra, expects that a tender for the Ilo port terminal concession will be issued in April. It is currently undergoing final evaluation at the state-owned body ProInversión.

Ilo port concession will be issued in April, Peru's Transport and Communications Minister Martín Vizcarra has said. Credit: Ministerio de Relaciones Exteriores.

The Minister also announced that several investors have indicated an interest in the project, both from Peru and abroad, including Bolivians seeking an export outlet.

Andino Holding, which is helping to develop Paita port, has also been linked with the Ilo concession, he revealed.

Parliament has also recently approved two new measures aimed at boosting investment in the maritime and port sectors. Law 1251 will make it easier to attract private sector investment in port infrastructure, while Law 1256 lifts many of the current bureaucratic hurdles in place.

Law 1251 will strengthen the role played by Proinversión in attracting private investment, with three of its six person board to be sourced directly from the private sector. It will also make the whole contractual process much simpler. In future, the writing of the initial evaluation report, setting up structure and undertaking subsequent transactions will all fall within Proinversión’s competency.

Many of the bureaucratic barriers in place are down to projects having to clear national, regional and municipal administrations; this will be simplified under Law 1256.