US$3bn venture is the largest deepwater port on the western coast of South America
The presidents of China and Peru officially inaugurated the Chancay megaport on Thursday at a virtual ceremony at the Government Palace in Lima, which took place under the auspices of this week’s Asia-Pacific Economic Cooperation Forum (Apec) Summit.
Xi Jinping and Dina Boluarte attend the launch of the multi-million dollar joint project remotely for security reasons.
Located 80km to the north of Lima, Chancay, is the largest deepwater port on the western coast of South America, designed to be the gateway from South America to Asia. The US$3bn port, majority-owned by Chinese shipping giant Cosco, will cut transit times between the two continents by half, benefiting not only Peru, but exporters in across the entire region.
The port has a draft of 17.8 metres (58 feet), allowing it to receive the biggest containerships in the world, carrying up to 24,000 containers, and is equipped with advanced technology including automated cranes and driverless trucks.
President Boluarte said the new port will boost Peru’s competitiveness in the world, allowing Peruvian products to reach Asian markets more efficiently.
“For Peru, Chancay marks the beginning of a new stage in economic development and also demonstrates the confidence of Chinese investors in our country. We are taking a firm step towards a future of greater integration, strengthening our relationship with China. At the same time, we are providing our Latin American partners with a gateway to the Asia Pacific,” she said.
Xi Jinping said the inauguration marked the “starting point for forging a new corridor” between his country and Latin America, connecting “the great Inca road to the Silk Road of the 21st century”.
The project, started in 2007, aims to strengthen Beijing’s presence in Latin America and, at the same time, consolidate the South American country as the main port hub of the South Pacific in the Asian market.
