Construction of Callao port minerals pier could begin in April

Tuesday, December 27, 2011

Construction of a new minerals pier at Peru's Callao port for Consorcio Transportadora Callao (CTC) is expected to start in April, national port authority APN president Frank Boyle was quoted as saying by state news agency Andina.

Work was previously planned to start in October this year. The delay requested by the company does not alter the operation's expected start up, scheduled for 2H13, Boyle said.

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Dredging will be carried out by Dredging International from Belgium, and APN has authorized the early implementation of this work.

The project requires investment of US$130mn, which is being funded by CTC's shareholders, and bank financing has already been confirmed.

The new terminal will handle 600,000-800,000t/y of minerals from Chinese-owned Chinalco's US$2.2bn Toromocho copper project in Junín region, which is slated to start production in 2H13. The facility will boost total movement at the port to 3Mt/y by 2013.

CTC is comprised of Perubar (32.5%), Cormin (32.5%), El Brocal (8%), Chinalco (7%) and the firm that will operate the terminal, Santa Sofía Puertos (20%).

Callao, located just west of Lima, is Peru's busiest port.