en.Wedoany.com Reported - The Housing and Construction Committee of the Peruvian Congress has approved the Corío Americas Megaport and the comprehensive remediation of its implementation site as a national interest project, clearing institutional obstacles for this $7 billion mega-port project.
This legislative decision aims to avoid potential property disputes, encroachments, and overlapping rights on the project site, aligning with the report request from the Regional Government of Arequipa to protect the area and prevent occupation from affecting long-term development. The report clarifies the responsibilities of the National Superintendence of State Assets (SBN), including physically and legally identifying and regulating required assets, as well as initiating interstate transfer procedures. Currently, the project is undergoing a technical evaluation phase to determine the final concession plan.
Located in the province of Islay, the Corío port is positioned as a strategic project for Peru and the southern region, planning to build a megaport capable of receiving ultra-Panamax vessels and ultra-large container ships, with integrated land, rail, and air infrastructure. The project aims to strengthen commercial ties with Brazil, Bolivia, Argentina, Uruguay, Paraguay, and Chile, opening international routes for Peru's raw material exports.
The port's initial annual handling capacity is 30 million tons, and thanks to its natural water depth of 28 meters (exceeding other port terminals in the region), its expected annual handling capacity could reach 100 million metric tons. The total development area covers 34,000 hectares, of which 1,127 hectares are allocated to the port, 467.74 hectares for logistics platforms, 2,610 hectares for industrial and technology zones, and approximately 1,193 hectares for the port city.
In April 2026, the Regional Government of Arequipa included the project in the 2026-2035 Regional Coordinated Development Plan and presented it during roadshows for domestic and international investors in May. According to proposals submitted to business groups, the terminal will provide export channels for copper and gold from southern Peru, lithium from Bolivia and the "Lithium Triangle" (Chile and Argentina), copper from northern Chile, and agricultural products from Brazil and Argentina. The regional government expects the area to also drive parallel investments in renewable energy, green hydrogen, and green ammonia, as well as mining projects such as Tía María, Cerro Verde expansion, Zafranal, and Pampa del Pongo, along with the Majes Siguas II irrigation project.
The project's prospects still face political uncertainty, with the new government set to take office in July 2026 ultimately deciding whether to advance this infrastructure initiative aimed at expanding logistics capacity, attracting investment, and enhancing competitiveness.
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