Peru's 2022 transport infrastructure investments fail to impress

Transport infrastructure works in Peru involved more than US$558mn invested in airports, railways, ports and highways in 2022.

Line No. 2 of the Lima metro led the investments with US$248mn.

However, investments in 2021 were US$778mn, and the 2022 figure was the second lowest in the last five years, behind US$456mn in 2020, according to transport investment regulator Ositran. 

If 2020, a year marked by the health crisis, is not considered, last year saw the lowest amount since 2013 (US$536mn).

BNamericas reviews the investment figures for 2022 and the progress of major works in Peru.

ROADS

Investments in highways reached US$157mn in 2022, less than half the amount in 2021 (US$338mn), when the Autopista del Sol (Trujillo-Sullana) highway – which crosses the northern regions of La Libertad, Lambayeque and Piura – accounted for US$209mn. 

Section 4 of the IIRSA Sur highway (Azángaro-Inambari) was the project that made the most progress last year, at US$31.5mn.

It was followed by section 5 of the IIRSA Sur highway (Matarani-Azángaro) and Red Vial No. 4 (Pativilca-Puerto Salaverry), with US$29mn and US$27mn, respectively. The IIRSA Norte section (Paita-Yurimaguas) accounted for US$26.3mn.

Overall, Autopista del Sol has involved US$447mn since 2011 out of a total commitment of US$493mn. Red Vial No. 4 has seen US$256mn spent of a total of US$286mn.

PORTS

The port sector received investments of US$119mn in projects during 2022, 20% more than in 2021. The largest investment in December 2022 was US$1.8mn for the expansion of the north terminal in Callao.

The project involved investments of US$13.5mn during 2022 and US$438mn since 2012.

The expansion of the Muelle Sur container terminal in Callao port saw investments of US$44mn in 2022, bringing the total to almost US$400mn of the planned US$731mn, while the Salaverry port terminal in La Libertad region has executed US$130mn of a total of US$270mn.

The Paita port terminal in Piura region has received investment of US$260mn of the US$312mn planned.

SUBWAY EXPANSION

Line No. 2 of the Lima metro is, for now, the only project in the rail sector. December, after having seen less than US$250,000 executed in October and November, saw an advance of US$67.8mn.

Despite the rebound, the project received investment of just US$248mn in 2022, the second lowest figure in the last five years. Line 2 has received investment of US$2.44bn of a total of US$5.35bn planned since 2014. According to Ositran figures, the project is 45.7% complete.

AIRPORTS

The airport sector received investments of US$33.9mn last year, the highest figure since 2015. The expansion of Jorge Chávez international airport in Lima accounted for US$26.9mn.

However, between January and May almost no construction progress was recorded, while from June to August US$25.8mn was spent.

To date, the expansion of the airport has seen investment of US$337mn. A recent update from the transport and communications ministry indicates that the total capex will be US$2bn.

Finally, the first and second group of regional airports – both co-financed by the State – contributed US$3.4mn and US$3.6mn, respectively.