Peru's national port authority (APN) estimates that investments of US$2.5bn will cut the country's port infrastructure gap in half by 2014, according to APN president Frank Boyle.
Investments are expected to come from private projects and port concessions to be awarded by private investment promotion agency ProInversion, Boyle told state news service Andina.
When the current government took office in 2005, some US$6.3bn was needed to upgrade ports. Some US$1.3bn has been invested to date, leaving a deficit of US$5bn, according to Boyle.
Port concessions in Loreto, Ucayali and Ica regions, along with the Muelle Norte terminal at Callao port, will generate more than US$1bn in investments, Boyle said. Private projects including the CF Industries project north of San Juan de Marcona will generate further investment, he added.
Consortium Terminales Portuarios Euroandinos (TPE), which operates Piura region's Paita port, is scheduled to begin work on a new terminal in February. The group is expected to invest some US$20mn in the expansion project during Q1, according to the report.