Cosco Shipping Sees Quick Resolution to Peru Port Question
China's Cosco Shipping confirmed that investment in Peru's Chancay port continues and that it expects a quick resolution to a pending question over exclusivity rights to the facility, a local executive told reporters on Tuesday.
Carlos Tejada, the company's general manager in Peru, made the announcement at an international trade event in the capital Lima.
Last month, the Asian shipping firm said it was evaluating the impact of a move by Peru's government to annul the exclusivity it holds over operations at the under-construction megaport, seen as a key driver of growth for the South American country once it's completed.
In 2021, Peru awarded exclusivity to Cosco Shipping to operate the port, but has since said it had identified an "administrative error" and requested a judicial process to annul the decision.
(Reuters - Reporting by Marco Aquino; Editing by Brendan O'Boyle)