Peru is planning to invest $6 billion over the next six years in a bid to close its gap in port infrastructure, according to the president of Peru's National Port Authority (APN), Frank Boyle.
The president, speaking to Peru’s Adina news, said that the infrastructure gap will be reduced by as much as 50 percent come 2018.
Some of the funds will enable construction projects and equipment upgrades at the Ports of General San Martin and San Juan de Marcona, located in the south of Ica, and the jungle river ports of Pucallpa and Iquitos, added Boyle.
However, the APN chief said that this does not mean that there will not be further investment from 2018, as Peru will continue to improve the competitiveness of its ports in the region in the future.
“We can close the breach but we can’t stay still,” said Boyle.
“Countries in the region continue to make investments and we have to be up-to-date, looking for new investments and possibilities for growth.”
Dubai-based DP World provided $300 million towards its Muelle Sur terminal during its first-stage of investment, while APM Terminals is planning to invest up to $748 million in its Terminal Muelle Norte that it acquired last year.
Economists estimate that Peru has an infrastructure gap or around $30 billion.