Deals

Peru joins worldwide surge in private port investment

The country's second largest port, Paita, will be redeveloped using $227m of private capital from a consortium of Peruvian construction companies that includes Translei, Tertir Terminais and Cosmos. The 30 year development project will expand and modernise the northwestern Peruvian port's dock.

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A group of private companies has signed a deal worth around $227 million to modernise Paita, Peru’s second largest port, in the latest of a string of announcements about private investment into ports around the world.

The consortium, made up of Peruvian construction companies Translei, Tertir Terminais and Cosmos, beat out two rival bidders to win the work, according to Peru’s Minister of Transport and Communications, Enrique Cornejo.

The 30 year redevelopment will expand and modernise the port's dock.

Other port developments receiving private investment include America’s Virginia Ports Authority and Port of Oakland; Spain’s Europort; and India’s Krishnapatnam.

Paita: $227m modernisation plan