COSCO Shipping Ports Chancay Peru has signed a contract with Chinese construction company CHEC SAC-CCCC4TH for the construction of a new multipurpose terminal.
Peru’s Ministry of Transport and Communications said in a statement that the contract is worth approximately $600 million and will include the construction of docks, breakwaters, maintenance and operational function areas, as well as storage space.
It estimated that the first pier will be ready by the end of the first half of 2023. The new terminal is designed to receive general cargo and containerised goods, with the capacity to receive vessels of 18,000 TEU directly from Asia.
The Ministry said the hub will “invigorate” Peru’s economy, boost exports and “generate new business opportunities”. Furthermore, it said the target will be for the terminal to process approximately 1.5 million TEU a year.
Additionally, the tunnel that connects the entrance complex with the port operational zone will be 1.8km long and constitutes a segregated and exclusive road corridor for cargo traffic, thus avoiding congestion on public roads.
The deal for the new terminal was originally signed in May 2019, when COSCO Shipping Ports announced that it had completed an equity transfer for the new greenfield site.
