The construction of the new Chancay Port, a 992ha mixed use project, in which COSCO Shipping holds a 60 per cent stake and Volcan, a subsidiary of Swiss mining company Glencore, has faced recent setbacks but is still advancing.
Chancay is located 67km north of Lima and on completion is designed to have an annual container handling capacity of 1.5m TEU and six million tonnes of general cargo with facilities also targeted for the export of copper and other minerals as well as agricultural products. Works on the secondary breakwater have finished and the main breakwater construction is also nearing the finishing line. Reclamation and dredging works have begun in the basin and access channel for Pier 1 and the construction of docks 2,3 and 4 is also underway. Construction works encountered problems in May as a result of a landslide at one of the construction sites for the 1.8km tunnel that will provide access to the port – this caused the suspension of the related tunnel works with these reported, at the time of writing, as about to begin again. The project also continues to be the focus of environmental concerns raised by diverse interested parties. The first phase development is scheduled to be completed by the end of 2024 at a total cost of US$1.3 and for the whole project capex is estimated as US$3.6 billion.
