Garcia’s meeting with Lula to help consolidate ties between Peru, Brazil

Peruvian President Alan Garcia’s meeting scheduled this week with Brazilian counterpart Luiz Inácio Lula da Silva will help consolidate ties between the South American nations, Peru’s Foreign Affairs Minister José Antonio García Belaunde said.

“What we are going to do in this meeting is consolidate the Brazilian presence in Peru, above all Brazilian companies,” García Belaunde told state news agency Andina. “We have a much more intense and rich relationship with Brazil than before.”

García Belaunde said the presidents, who will meet in Brazilian city Manaos, will review the development of bilateral commitments, particularly agreements for energy integration and the process of that integration.

“I think the bilateral relation is of vital importance,” he added. “A growing business presence… there is now a much more significant Brazilian investment in Peru.”

A major Brazilian investment in Peru is the multi-billion dollar Inambari hydroelectric project, located along the border region of Puno, Cuzco, and Madre de Dios departments.

The Inambari dam is Peru’s largest hydroelectric project and fifth largest in Latin America. The owner of the project, Brazilian consortium Egasure, is expected to invest $4 billion. The project is slated to have an installed capacity of 2,000 megawatts of electricity.

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