Peru Aims to be a Major Pacific Trade Hub

Emerging Markets Economy, Sep 2, 2004

Peru aims to unveil a US$250 million container terminal by 2009 to revamp its ageing, congested ports and become a major trade hub in the Pacific, the National Port Authority said last week.

Peru's Callao port, which handles 90 pe cent of Peru's US$10 billion annual exports, is creaking under the strain of an export boom driven by US and Chinese demand for goods such as minerals, textiles, asparagus and coffee.

Peru hopes to open the bidding for the container terminal next year and aims to attract leading operators such as Hong Kong's Hutchison Whampoa, port authority board member Guillermo Vega said. - (EMEconomy.com)