Peruvian-Portuguese consortium sign Peru port pact
Terminales Portuarios Euroandinos, a consortium of Peruvian and Portuguese companies, signed a deal valued at $227 million on Tuesday to modernize Peru's northern port of Paita.
The port is located in the northern region of Piura, near Peru's Pacific border with Ecuador. It is the country's second-largest port after Callao.
Construction on the project, which includes a new container dock, could start as early as mid-2010, according to Proinversion, a government group that promotes investment.
The consortium is made up of two Peruvian companies, Cosmos and Translei, and Tertir Terminais, which is controlled by Portugal's largest construction firm, Mota-Engil (MOTA.LS).
"Three consortiums were pre-qualified ... and one of those offered a technical and economic proposal that gave us the good news of $127 million in required investment and $100 million in additional investment," Enrique Cornejo, Peru's minister of transportation and communication, told reporters.
The government is encouraging companies to invest in projects to improve infrastructure, which is outdated and dangerous in many parts of Peru.
President Alan Garcia has said shrinking the country's infrastructure deficit is key to maintaining economic growth in the midst of the global financial crisis.
The port is located in the northern region of Piura, near Peru's Pacific border with Ecuador. It is the country's second-largest port after Callao.
Construction on the project, which includes a new container dock, could start as early as mid-2010, according to Proinversion, a government group that promotes investment.
The consortium is made up of two Peruvian companies, Cosmos and Translei, and Tertir Terminais, which is controlled by Portugal's largest construction firm, Mota-Engil (MOTA.LS).
"Three consortiums were pre-qualified ... and one of those offered a technical and economic proposal that gave us the good news of $127 million in required investment and $100 million in additional investment," Enrique Cornejo, Peru's minister of transportation and communication, told reporters.
The government is encouraging companies to invest in projects to improve infrastructure, which is outdated and dangerous in many parts of Peru.
President Alan Garcia has said shrinking the country's infrastructure deficit is key to maintaining economic growth in the midst of the global financial crisis.