It is a massive investment: the Emirati company DP World is injecting 400 million dollars (374 million euros) to double the capacities of Peru’s main port located in Callao, near Lima. This will be done thanks to the commissioning of a new quay, inaugurated Thursday June 20.
2 mins
In 2000, the China represented less than 2% of South American exports. Things have changed a lot: 180 billion dollars were exchanged in 2010, 450 billion today.
China has also invested massively in the infrastructure of this region of the world to support this growth. She’s not the only one. The UAE company DP World has invested $400 million to build a new port at Callao near Lima. A sign of its importance: the installation was inaugurated this week by Sultan Ahmed Bin Sulayem, head of the company, and by the Peruvian president Dina Boluarte. “ This work demonstrates that the Peru is a reliable country for foreign investment », Underlined Head of State. “ This investment will create opportunities for new trade routes. We want to connect all the world’s markets faster and smarter », For his part indicated Ahmed Bin Sulayem.
DP World is a subsidiary of the state-owned Dubai World. It operates ports in Canada, the Dominican Republic, Ecuador, Brazil, Argentina and Chile.
Read also“New Silk Roads”: in Latin America, “States and societies know how to say no”
China invests 3.5 billion euros in another port terminal
The Peruvian president is expected in China at the end of June where she is due to meet the managers of Cosco Shipping Ports. This Chinese company plans a total investment of $3.5 billion in the gigantic port terminal of Chancay, less than 100 kilometers north of Lima. This investment is intended to make Peru the hub of trade between Asia and South America. The Chinese president Xi Jinping must also attend the inauguration in person in November 2024.
Read alsoThe mega-port of Chancay in Peru, a bridge between China and the South American continent