President Xi attends inauguration of Cosco Shipping port in Peru/

The President of Peru, Dina Boluarte, and the President of China, Xi Jinping inaugurated the $1.3 billion port of Chancay offering a direct connection of 23 days with China. Presidents Xi and Boluarte symbolically inaugurated the operations of the port of Chancay operated by Cosco Shipping Ports.

Peruvian President Boluarte gave the order, from Lima, to proceed with the loading of the first container at the Port of Chancay, on the ‘Cosco Shipping Peru’, marking the symbolic start of operations of the port which will effectively begin operations in early 2025.

President Xi highlighted that ‘the ports are important pillars for economic development and in the case of the Port of Chancay, besides being a good deep-water port, it is also the first intelligent port in South America’.

‘Once the works are completed, maritime transport between China and Peru will be reduced by more than ten days, reducing the logistical cost by more than 20% and will generate considerable income and enormous job opportunities for Peru, effectively consolidating its status as a hub that ensures land and maritime transport connecting Asia with Latin America and the Caribbean,’ he added.

‘With this mega project we are starting a transformation that will consolidate the country as a world class logistic, technological and industrial centre that will project us strategically in the Asia-Pacific region,’ said Ms Dina Bolaurte.

Chancay is in its first stage of development and represents an estimated investment of $ 1.3 billion and in its completion a final investment of $3.4 billion, with a total of 15 berths.  The present infrastructure has four docks - two docks for container ships, one for general cargo and one multipurpose - is designed to receive 24,000 teu-vessels, with a total berthing area of 1,500 metres and a draught of 17.8 metres. It will facilitate the arrival of high-capacity vessels and offer a direct connection with China in an estimated 23 days of sailing time. 

With this infrastructure, Chancay expects to mobilise between 30% and 40% of local cargo destined for China and Southeast Asia in its first years of operation, generating savings of more than 20% in logistics costs for Peruvian exporters.