Peru's Arequipa Governor Promotes $844M Corio Port as Chancay Alternative

Interest from various foreign investors, including Chinese firms, has been generated by a proposed deep-water port in southern Peru, valued at US$844 million, as stated by Arequipa's governor, Rohel Sanchez. The initiative, referred to as the Corio terminal, has been revised from an initial US$7 billion concept and still lacks a confirmed investor or operator. On Monday, Sanchez formalized an agreement with Peru's state investment agency Proinversion, initiating efforts to promote the project internationally. "We have received inquiries from multiple companies, including those from the US, China, and India," Sanchez informed the media. Additionally, investors from Turkey, the Netherlands, and South Korea, interested in logistics technology, have also expressed interest. Proinversion's president, Luis del Carpio, indicated that Corio is expected to manage general cargo and containers while potentially facilitating copper exports to Asia. The port is being proposed as an alternative to the Chinese-backed Chancay port located north of Lima, with the Corio project still in its preliminary phases.