Cosco Shipping company has signed a US$600 million construction agreement with China Harbour Engineering Corporation for Chancay multipurpose port terminal in Peru.

The agreement involves the construction of the port, as well as the administrative area at the entrance of the port. The first pier is expected to be constructed by the first half of 2023. Currently, the machinery mobilization and land preparation works are being conducted to facilitate construction activities for piers, breakwaters, maintenance and operational areas, maneuvering and storage areas and administrative management areas.

Once operational, the port will handle containerized cargo, general cargo, non-mineral bulk cargo, liquid cargo and rolling cargo. The port will have an annual capacity of 1.5 million TEUs and 6 million tonnes of general cargo. The estimated investment value of the port is US$3 billion.