Construction of the Chancay megaport advances despite legal controversies

The business consortium made up of Cosco Shipping Ports Chancay and its local partner Volcan Compañía Minera continues to advance with the works to begin operations this year at the Chancay megaport, despite the legal controversies that have arisen with the Peruvian State regarding the exclusivity of the installations.

The company has reiterated its commitment to contribute to closing infrastructure gaps and optimizing logistics costs for the benefit of the economic growth and development of Peru. The new multipurpose port terminal, located in the district of Chancay, province of Huaral, 80 kilometers from Metropolitan Lima, is an investment project whose shareholders are the Chinese-owned company Cosco Shipping Ports Limited (CSPL) with a 60% stake. and the Peruvian Volcan Compañía Minera with 40%.

Despite the controversies, in 2021 the final authorizations required by Peruvian legislation for the current design of the port were obtained. This has allowed progress in the construction process and decisions to be made about the magnitude of the project, the technology to be used and the amount of the investment, which amounts to 1.3 billion dollars in its first stage.

Cosco seeks dialogue with Peruvian authorities to resolve controversy over the Port of Chancay

The objective of the project is not only to implement modern port facilities, but also to contribute to the creation of a logistics, industrial and technological hub in the central area of ​​Peru, with an impact at the regional level.

However, the project has been affected by a change in the regulatory scheme and by interpretations that seek to impose regulatory conditions applicable to publicly owned ports. Faced with this situation, the company has initiated legal actions to defend its right to provide port services in its terminals, under the terms agreed upon at the beginning of the investment.

Cosco Shipping Ports Chancay Peru has urged the authorities of the Executive Branch to implement an institutional channel of dialogue to resolve the controversy generated, emphasizing the importance of guaranteeing conditions of legal stability and predictability for private investments in port infrastructure, which are fundamental for the economic development of the country.