Maersk to build and operate 1.1 billion USD pier in Peru’s main port

Monday, April 4th 2011 - 01:52 UTC

Full article 4 comments

The busy port of Callao, the hub of Peruvian foreign trade

The world’s largest container shipping line, Moeller-Maersk A/S, won a contract to build and operate a 1.1 billion US dollars pier at Peru’s largest port, the government announced in Lima.

Copenhagen-based Maersk’s APM Terminals unit beat out Hong Kong-based Hutchison Whampoa Ltd. by offering a bigger discount for services at the Muelle Norte pier at the Callao port, state investment promotion agency Proinversion said at a ceremony in Lima.

The concession, which comes before April 10 presidential elections, will significantly reduce costs at Callao, which handles 45% of the country’s cargo.

“Investors feel that the next government will have to respect their rights,” Finance Minister Ismael Benavides told reporters in Lima.

“Peru’s trailing the region in port modernization as everybody’s awarding concessions.”

Maersk and the 600 million USD Muelle Sur pier operated by DP World Ltd. (DPW) will compete to handle grain imports and exports of metals, natural gas, fishmeal and coffee, according to Proinversion.

Peru is the world’s second-largest copper producer and the first in silver.

Categories: Economy, Latin America.

Tags: El Callao, Ismael Benavides, Peru, silver.

Top Comments

Disclaimer & comment rules

briton
Like I said open for sale,
to the highest bidder go the profits,
Apr 04th, 2011 - 10:58 am 0
Fido Dido
Peru isn't for sale, it's open for investments.
Of course it goes to the best bidder where the profits are greater in long term. Common sense has arived in Latin America.
Apr 04th, 2011 - 07:29 pm 0
briton
.theirs nothing wrong with investments as long as the people benefit
Apr 04th, 2011 - 07:35 pm 0

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