en.Wedoany.com Reported - The Peruvian government is promoting a port investment partnership targeting Indian enterprises to attract funding for the Corío Port project. Peru's Ambassador to India, Javier Paulinich, confirmed to EFE: "We are in discussions with several Indian companies, and the project is currently in the evaluation phase."
The Corío Port is planned to be located in Punta de Bombón, Islay Province, in Peru's Arequipa region. It features a natural water depth of 28 meters and a designed annual handling capacity of 100 million tons. According to the proposal submitted to the Indian business consortium, the terminal will serve the export of copper and gold mines in southern Peru, lithium from Bolivia, Chile, and Argentina, copper from northern Chile, as well as agricultural products from Brazil and Argentina. Paulinich stated that this project will allow India to establish an autonomous logistics platform on the Pacific coast of South America, providing direct access to regional mineral and agricultural resources.
Unlike the Chancay Port in Peru, which was inaugurated in 2024 with participation from the Chinese state-owned enterprise COSCO Shipping, the Corío Port is designed as a fully private project. An Indian operator could manage logistics independently, without relying on infrastructure involving foreign state-owned enterprises. According to the UN Comtrade Database, India's imports from Peru reached US$4.69 billion in 2024, with over 90% being precious metals. Peru is the world's second-largest exporter of copper and silver, raw materials used in India's semiconductor and electric vehicle industries.
The project was relaunched in November 2024 through an agreement signed by Peru's Private Investment Promotion Agency (ProInversión), the Regional Government of Arequipa, and the Ministry of Transport and Communications. With an estimated investment of US$7 billion, it is currently in the technical evaluation phase to determine the concession scheme.
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