Chinese Investments In Peru Seen Totaling $10 Billion

Investments by China in Peru are expected to reach $10 billion over the next five years, according to estimates by the head of the Shanghai office of Peru-based Interbank, Juan Carlos Rios.

Chinese investments would be focused on mining, infrastructure, energy and machinery, state news agency Andina reported.

Chinese companies have large scale projects in the mining sector, including a $2 billion Toromocho copper project owned by Chinalco, and the iron ore complex at Marcona in southern Peru, owned by Shougang Hierro Peru.

Peruvian companies currently do not have investments in China, but Rios said there are opportunities.

“We have held talks with clients and we think that they could set up production in this market,” he said.

Rios also said that bilateral trade between China and Peru is expected to total about $16 billion, and that trade will grow by about 20 percent over the next few years.

China is Peru’s biggest export market, as the Asian country has strong demand for Peru’s mineral production.

Five years ago, trade between the countries totaled about $5.5 billion and now it is around $10 billion.

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