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COSCO SHIPPING Ports PERU (Chancay) Project is Officially Completed

Date:2019-05-15 Read times: font size:[ L M S ]

On the afternoon of 13 May (local time in Peru), COSCO SHIPPING Ports PERU (Chancay) Project Official Transfer Ceremony is officially held in the President Residence in the downtown of Lima, Peru. Mr. Martín Vizcarra, President of Peru, Ms. María Esperanza Jara Risco, Minster of Transportation and Communications of Peru, Ambassador Nestor Popolizio, Minister of Foreign Affairs of Peru, Mr. Edgar Vasquez, Minister of Foreign Trade and Tourism of Peru, Ms. Li Yun, charge d'affaires of Chinese Embassy in Peru, Ms. Hao Qinmei, Economic and Commercial Counsellor of the Embassy and Captain Xu Lirong, Chairman of China COSCO Shipping Corporation Ltd. (“COSCO SHIPPING”) attended the ceremony. Mr. Zhang Wei, Chairman and Managing Director of COSCO SHIPPING Ports and Mr. José Picasso, Chairman of Volcan Compañía Minera S.A.A. (“Volcan”) signed the closing certificates on behalf of the two parties.

Both China and Peru have stated that the Port of Chancay project is an important initiative for China and Peru to actively implement the “Belt and Road Initiative”. The economies of China and Peru are highly complementary, and the development goals and needs of the two countries are highly compatible, and they are welcoming unprecedented historical opportunities. During “The Second Belt and Road Forum for International Cooperation” held in Beijing, the Chinese government and the Peruvian government signed a Memorandum of Understanding on the “Belt and Road” to open up a broad space for cooperation between the two countries.

Mr. Martín Vizcarra, President of Peru, said, “The signing of the closing certificate by companies from Peru and China is a milestone. Based on mutual connectivity of “Belt and Road Initiative”, the companies from China and Peru jointly invested and developed Chancay Project, which laid a solid foundation for Peruvian economic development, as well as trade cooperation between China and Peru. The construction of the Port of Chancay will contribute to the regional development and we expect to develop Port of Chancay into one of the most important hub ports in South America and logistics center near the Pacific Coast, which will promote the regional trade and the trade between China and the Latin America.”

Ms. María Esperanza Jara Risco, Minster of Transportation and Communications of Peru, said, “As an important infrastructure project, Port of Chancay is the achievement from increasing trust between Chinese and Peruvian companies. The project is not only a multimodal transportation project upon completion, but also an important infrastructure project that contributes to Peru, as well as generations of Peruvian people.”

Ms. Li Yun, charge d'affaires of Chinese Embassy in Peru, said, “China and Peru jointly develop the Port of Chancay, which is an important cooperation in the infrastructure field and symbolizes the friendship between the two countries.  In 2019, Sino-Peruvian relations and pragmatic cooperation between two countries have new important development opportunities.  We believe, with the successful implementation of “Belt and Road Initiative” in Latin America, Port of Chancay will become the first China’s first transportation and infrastructure project in Peru under mutual connectivity, which will strengthen mutual connectivity in Peru. With the great support of Chinese and Peruvian governments and the efforts from the companies, Port of Chancay will be successfully implemented and reach expectation, which will positively contribute to the economic development in Peru and improve the living standard for Peruvian people.

Captain Xu Lirong, Chairman of COSCO SHIPPING, said, “Port of Chancay is an important initiative to implement “Belt and Road Initiative” for China and Peru. COSCO SHIPPING is committed to develop Port of Chancay into an example under the “Belt and Road Initiative” framework. Peru is one of the countries in Latin America and Caribbean region where enjoys the fastest economic growth. COSCO SHIPPING chose to invest in the Port of Chancay because there is great potential in Peru's economic development and trade between China and Peru. The completion of the transaction signals that Chinese and Peruvian companies will jointly cooperate and maximize resources and advantages in their professional fields and heralds a new chapter in cooperation. COSCO SHIPPING will jointly cooperate with Peru to develop Port of Chancay into an important hub port in Latin America and near the Pacific Coast, which will promote regional economic development. It will become the new link and bridge for trade and economic exchanges between China and Peru.”

Mr. José Picasso, Chairman of Volcan, said, “COSCO SHIPPING Ports has strong and professional business operation capabilities, as well as efficient management skills. Port of Chancay enjoys favorable geographical location and has the potential to become a logistics center. It is expected to have first-class management team, who have strong management experiences. It is also equipped with superior facilities and intellectual system. This project is a milestone under the framework of mutual cooperation between China and Peru, which deepens the bilateral relations in multiple fields.”

Before the signing ceremony, Mr. Martín Vizcarra, President of Peru, welcomed and received Captain Xu Lirong and the delegates. Mr. Martín Vizcarra expressed sincere gratitude and welcome to COSCO SHIPPING’s investment in Peru. He spoke highly of Port of Chancay project, which is not only conducive to Chinese and Peruvian enterprises, but also contributes to the economic and trade between China and Peru. Peruvian government will fully support the implementation of the project. Ambassador Nestor Popolizio, Minister of Foreign Affairs of Peru, Mr. José Picasso, Chairman of Volcan, representatives from COSCO SHIPPING and COSCO SHIPPING Ports joined the meeting.

Port of Chancay is COSCO SHIPPING's first greenfield subsidiary in South America. On 23 January 2019, COSCO SHIPPING Ports officially signed the subscription and investment agreement with Volcan to acquire stake in Port of Chancay. Peru has great potential in economic development. Located 58 km in the north of the Peruvian capital of Lima, Port of Chancay enjoys favorable location where it has easy access to the economic centre of Peru. About 60% of Peru's economic activities are concentrated in Lima and its surrounding areas, and thus, the favourable geographic location of Lima is of strategic importance. Port of Chancay is a natural deep-water harbour with a maximum of 16 meters water-depth and is capable of satisfying the needs of mega vessels.

The construction of Port of Chancay includes multi-purpose terminals, container terminals and related infrastructure facilities. Phase one of the terminal will have four berths, of which two are multi-purpose berths, and two are container berths with a total annual designed capacity of one million TEU.

In the evening, COSCO SHIPPING also held COSCO SHIPPING Ports Chancay PERU S.A. Promotional Event. Ms. Mercedes Aráoz, Vice President of Peru, Ms. Li Yun, charge d'affaires of Chinese Embassy in Peru, Mr. José Picasso, Chairman of Volcan and Mr. Zhang Wei, Chairman and Managing Director of COSCO SHIPPING Ports attended the promotional event.

 

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