Peruvian congressmen seek to put Corio megaport project back on the table

A group of Peruvian legislators have presented a bill that aims to declare of public necessity and national interest the construction of the Corio megaport in Islay province in Arequipa region.

The project, which has been in the works since the early 2000s, seeks to build a port with a 28m draft, allowing for both Super Post Panamax and ultra large container vessels to enter. Due to the area's geographic conditions, the Corio megaport's draft would be much greater than the draft of any current port in Peru and would even surpass by almost 10m Chile's future Mejillones megaport.  

Initial investment is estimated at US$500mn, reaching close to US$1.5bn overall, and the project would likely be carried out through private investment promotion agency ProInversión.

With the majority of Peruvian exports going to China the legislators highlighted the need to develop a competitive megaport to serve the Asian market.

To view the bill, in Spanish, click here.