Airport investment expected to exceed $150 million in 2010

Investment in Peru’s airports is expected to exceed $150 million in 2010 due to the construction of a new airport in Pisco and the awarding of the concession contract for the second regional airport package.

Minister of Transportation and Communications, Enrique Cornejo, said the airport in Pisco – located about 180 miles south of Lima – will require an investment of more than $40 million, state news agency Andina reported. Read more…

Work on Lima’s electrical railway to begin in March; expected to be finished in July 2011

The consortium in charge of constructing Lima’s electrical urban railway said Wednesday work on the second stretch of line between Villa El Salvador and Grau Avenue will begin in March. The director of the Tren Eléctrico Lima consortium, Carlos Nostre, said the $549 million project is expected to be finished by July 2011, state news agency Andina reported. Read more…

Government recommends closing mine after explosion kills eight workers

Peru’s Ministry of Energy and Mines recommended the closing of a coal mine where an explosion killed eight workers on Wednesday. The coal mine is operated by Gazuna Mining company and located in the Oyón province, about 180 miles north-east of Lima. Read more…

Adex: Peru’s export revenue falls by 14 percent in 2009

The Peruvian Association of Exporters, or Adex, announced Friday that Peruvian exports decreased by 14 percent in 2009. The total value of Peru’s exports totaled $26.5 billion last year, down from $30.6 billion in 2008, state news agency Andina reported. Read more…

President García pledges support for flood-devastated Cusco; estimates Machu Picchu train repairs could take less than 2 months

President Alan García called for public calm on Friday after flying over areas devastated by torrential rains, mudslides and floods in Peru’s southern Cusco department. García said the government will guarantee the reconstruction of the regions infrastructure and relief aid for some 25,000 people left homeless by the floods, daily El Comercio reported.

“The government is going to guarantee what is necessary to re-establish highways, railways and, in second place, electrical connections, which have been damaged in various places and can be re-established,” said García. He said the reconstruction could be done in less than two months. Read more…

Sedapal denies irregularities in contract for water treatment plants in San Bartolo

The president of Peru’s state water utility agency, Sedapal, denied on Tuesday irregularities in the agency’s decision to reward a multi-million dollar contract to a newly formed company owned by a former Peruvian soccer player, Radio Programas Peru reported. Read more…

Peru’s telecommunications regulator announces project to decrease phone rates

The president of the State regulator of Peru’s telecommunications sector, Osiptel, said Tuesday that his agency is working on a project that would regulate the rates of telephone calls from landlines to mobile phones in order to decrease the current costs. Read more…

Telefónica investment to increase communications coverage in Peru

Telefónica del Perú – a subsidiary of the Spanish telecommunications giant of the same name – said Fridayit will invest $1.5 billion in Peru between 2010 and 2013 to increase telecommunications coverage.

The president of Telefónica, César Alierta, said the investment would develop a core fibre optic communications network to increase broadband Internet coverage in Peru’s Andean highlands, state news agency Andina reported. The network will reportedly connect Pucallpa, the capital of the Ucayali department located in Peru’s central jungle, to Cusco, located in the country’s southern Andes. Read more…

Peru’s Fonafe to invest $33 million in water treatment plant on Yauli river

The National Fund for the Financing of State Entrepreneurial Activities, or Fonafe, announced on Friday a $33 million investment for the construction of a water treatment plant on the Yauli river in Peru’s central Junín department. The head of Fonafe, Jorge Villasante, said in a press release the funding for the project came from an environmental trust fund established with the Aluminum Corporation of China Ltd, or Chinalco. Read more…

India presents proposal to increase investments with Peru

India’s Minister of State of External Affairs, Shashi Tharoor, presented a proposal to Peru’s government on Thursday to begin talks on an investment agreement between the two countries. During a press conference with Peru’s Foreign Affairs Minister, José García Belaunde, Tharoor said Indian companies are particularly interested in investing in natural gas exploration and mining projects in Peru, as well as the country’s agricultural, pharmaceutical, and technological sectors, daily Gestión reported. Read more…

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