The Private Investment Promotion Agency (PROINVERSIÓN) has received the order from the Regional Government of La Libertad for the contracting and preparation of the technical studies, evaluation report and new promotion process for the Chavimochic project in the north of Peru.

The Chavimochic III Stage project aims to integrate 63,000 hectares of new land and enhance irrigation across 48,000 hectares in the Chicama Valley. Located along the coastal strip of La Libertad department, the Chavimochic project aims to divert water from the Santa River to irrigate lands in the Chao, Virú, Moche, and Chicama valleys, addressing population needs and supporting energy generation across three hydroelectric plants.

The agency will oversee the promotion of a new concession, as well as the operation and maintenance of the project's three stages, which entails financial and legal structuring, along with the preparation of updated engineering studies. The concession will facilitate private investments totaling approximately US$ 2.4 billion in the agricultural and agro-industrial development of the designated lands. This investment is expected to yield an annual agro-export production valued at around US$ 2 billion.