MercoPress. South Atlantic News Agency

Boluarte and Xi Jinping inaugurate Chancay megaport in Peru

Chancay “is the first smart and green port in South America,” Xi Jinping highlighted

Presidents Dina Boluarte of Peru and Xi Jinping of China inaugurated Thursday the mega-port of Chancay, some 40 miles north of Lima. The structure, built with financing from the Asian country, is expected to revolutionize South America's Pacific Ocean trade. The opening took place within the framework of the Asia-Pacific Economic Cooperation (APEC) summit.

“In just a few years a modern port has been built, which fills us with emotion and encouragement. Ports are important pillars for economic development,” Xi Jinping highlighted. The new facility will consolidate “Peru's status as a hub that articulates land and maritime transportation and connects Asia with Latin America and the Caribbean,” he added.

“This is a historic moment for Peru and for all Peruvians. With this mega project, we are starting a transformation that will consolidate the country as a world-class logistics and industrial center and will project us strategically in the Asia-Pacific region,” Boluarte reckoned. Boluarte also mentioned that the port “reflects how Chinese investment and mutual cooperation can be engines of sustainable development and progress for our nations.”

In the Chinese leader's view, the port will allow for “shared profits in an even wider space and will generate palpable results for the peoples” of the region who “will feel benefited and satisfied.”

“Maritime transport between China and Peru will be reduced by more than ten days, saving more than 20% of the logistic cost and generating considerable income and enormous job opportunities for Peru,” he also noted. He also underscored that Chancay “is the first smart and green port in South America.”

“Let's sail shoulder to shoulder to embrace the world and move towards a more beautiful tomorrow” through the new facility, most of which is owned by Chinese Shipping giant COSCO following an investment of US$ 1.3 billion in its first phase. The structure can withstand earthquakes of up to 8.5 degrees, it was also explained.