COSCO SHIPPING Ports Limited, a leading ports operator in the world, has announced that COSCO SHIPPING Ports PERU (Chancay) Project Official Transfer Ceremony and COSCO SHIPPING Ports Chancay PERU S.A. Promotional Event were officially held in Peruon 13 May (Local time in Peru), the company said in its release.
The equity transaction of the Project Company was officially completed on 10 May 2019. Port of Chancay is the Company’s first greenfield subsidiary in South America and COSCO SHIPPING Ports is dedicated to developing it to an important gateway port in South America.
At the signing ceremony held in Peru, Mr. Zhang Wei, Chairman and Managing Director of COSCO SHIPPING Ports and Mr. José Picasso, Chairman of Volcan Compañía Minera S.A.A. (“Volcan”) signed the closing certificates on behalf of the two parties. On 23 January 2019, COSCO SHIPPING Ports officially signed the subscription and investment agreement with Volcan to acquire stake in Port of Chancay.
Port of Chancay is a natural deep-water harbour with a maximum of 16 meters water-depth and is capable of satisfying the needs of mega vessels. The construction of Port of Chancay includes multi-purpose terminals, container terminals and related infrastructure facilities. Phase one of the terminal will have four berths, of which two are multi-purpose berths, and two are container berths with a total annual designed capacity of one million TEU.
About COSCO SHIPPING Ports
COSCO SHIPPING Ports Limited is a leading ports operator in the world; its terminal portfolio covers the five main port regions in Mainland China, Southeast Asia, Middle East, Europe,South Americaandthe Mediterranean Sea. As at 31 March 2019, CSP operated and managed 285 berths at 37 ports worldwide, of which 194were for containers, with a combined annual handling capacity of 108 million TEU. In terms of its total throughput in 2017, CSP ranked No.1in the world by Drewry Maritime Research. The controlling shareholder of COSCO SHIPPING Ports is COSCO SHIPPING Holdings Co., Ltd. and its ultimate parent company, China COSCO Shipping Corporation Limited is the largest integrated shipping enterprise in the world.