Spain’s OHL signs $400 million highway deal with Peru

Spain’s OHL, an international transport, pipeline, hydraulic infrastructure and construction firm, has signed a $400 million deal with Peru to build a 224-mile, or 360 kilometer-long highway along the Andean country’s northern coastline.

“This project is an extraordinary example of faith and trust, and proof that Peru will continue to grow at one of the world’s fastest rates,” said Peru President Alan Garcia during a ceremony with OHL at the Government Palace.

“This project will be very important for the land that we love so much, and will serve as an example to those who have resources that it is best to invest today in order reap much more tomorrow,” added Garcia.

Last December, Garcia rolled out a $3.2 billion emergency package to cushion Peru from global financial crisis. Particular attention was drawn to boosting public expenditure on infrastructure — including housing, irrigation and public works, highways and hospitals — and stimulating private investment.

“The government knows that this investment in infrastructure will allow the country to develop and face the global financial crisis head on,” said Garcia.

OHL is to construct a highway that will run north from Pativilca, near Peru’s capital, Lima, to the northern coastal city of Trujillo. It is expected to shorten the existing Lima-Trujillo route, the Pan-American Highway, from eight to five and a half hours.

The mega-project is expected to generate approximately 7,800 jobs over the next three years.

Sharing is caring!

Comments are closed.