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ProInversión pegs Muelle Norte investment at US$749mn (Peru)

Peru's private investment promotion agency ProInversión has approved the final version of the concession contract for the modernization of Callao port's Muelle Norte terminal, which calls for an investment of US$749mn.

The eventual concessionaire will invest US$206mn in the project's first phase and US$101mn in its second phase. Both stages involve preliminary works and must be carried out within 44 months, state news agency Andina reported.

Third-stage works will cost US$154mn, while the fourth and fifth stages will require US$397mn and US$166mn respectively.

The Muelle Norte project is scheduled to be awarded by April 1. Prospective bidders for the 30-year concession are Hong Kong-based Hutchinson Port Holdings (HPH), APM Terminals and Ports America.

The project involves modernizing and upgrading docks 1, 2, 3, 4 and 5 of Peru's busiest port.

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