17 Feb 2020

Projects – Weekly snapshot

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From Thursday, February 11 to Monday, February 17, 2020

 

SPOTLIGHT

 

Work on the new Central Highway will only begin during the first half of 2022

 

Three years ago, there was talk of building a “new” Central Highway, starting the pre-investment stage. An agreement was reached with the regional governments of Lima and Junín to carry out the corresponding studies. Although the Regional Government of Lima did not complete the studies, the Regional Government of Junín presented a proposal that considered a road of more than S/ 11 billion.

 

Now, once the pre-investment stage is over, the Ministry of Transport (MTC) has set a sort of schedule to move on to the investment stage. With this, it is expected that the construction of the new Central Highway will only begin in the first half of 2022, said the owner of the sector, Edmer Trujillo.

 

MONDAY 17
  • In March, Frontera Energy’s contract to operate Lot 192 (Loreto) ends. And although it has yet to be defined whether this contract will be extended because the completion of the prior consultation process – still underway – could be postponed until April or May, the truth is that once the deadlines are met, the aforementioned lot must pass into the hands of Petroperu and a partner. Along these lines, in order to continue exploiting lot 192, some US$ 800 million in investment will be required.
  • Cerro Verde received an update of the environmental impact assessment (EIA) of its Recka thermal power plant, located in Lambayeque, which will have a capacity of 181 MW.
  • As part of the US$5 billion fund for Latin America, launched in the first quarter of 2019, SoftBank Group Corp. plans to allocate US$1 billion by 2020, focusing on industries such as e-commerce, healthcare and financial technology.
  • Nexa Peru’s greenfield projects, Magistral, Pukaqaqa and Hilarión continue their respective maturation processes. Thus, the feasibility study of Magistral (Ancash) is in progress; and new metallurgical tests are being carried out in Pukaqaqa (Huancavelica) and are expected to be completed in the second quarter of 2020.
  • Anglo American Quellaveco submitted a supporting report to Senace for modifications to its project located in Moquegua. The mining company proposes to make changes in some mining components in Quellaveco.
FRIDAY 14
  • In October 2018, the Ministry of Transport (MTC) and the company Salaverry Terminal Internacional signed the concession contract for 30 years for the project “Modernization and Development of the Salaverry Multipurpose Port Terminal”. Almost a year and a half later, next week, the concessionaire will complete the management of its financial closure, informed the president of the board of directors of the National Port Authority (APN), Édgar Patiño, during the Foreign Trade Seminar, prepared by ComexPerú.
THURSDAY 13
  • Three years ago, there was talk of building a “new” Central Highway, starting the pre-investment stage. An agreement was reached with the regional governments of Lima and Junín to carry out the corresponding studies. Although the Regional Government of Lima did not complete the studies, the Regional Government of Junín presented a proposal that considered a road of more than S/ 11 billion.
  • The Spanish power generation company Continua Energías Positivas received a definitive concession for the development of renewable energy projects in Arequipa, which will mean an investment of almost US$ 200 million. Thus, the Ministry of Energy and Mines granted CSF Continua Chachani and CSF Continua Pichu Pichu, subsidiaries of the Spanish company, the definitive concessions for generation activities of two solar projects in the district of La Joya (Arequipa).
  • Cementos Pacasmayo reported that the company’s profits in 2019 increased by 75.8% over the previous year.
  • In an agreement signed in Lima, PSA Marine, a subsidiary of PSA International Pte Ltd, with headquarters in Singapore, acquired 100% of the shares of Tramarsa Fleet and its subsidiaries Naviera Tramarsa and Diving del Perú (Tramarsa Group), for an amount that was kept in reserve.
  • The FG real estate company in Chile, which entered the Peruvian market in the third quarter of 2019 after the purchase of 50% of Arteco from the Costanera Group, seeks to grow in the country. While they currently have six apartment projects underway in Lima, they expect to execute eight initiatives annually with projected sales of US$30 million to US$40 million, according to El Mercurio.
  • Australia’s Karoon Energy reported that after the arrival of a specialized deepwater drilling ship in late January, it has drilled to a depth of 1,654 meters in lot Z-38, in the Tumbes Sea. Thus, it drilled in primary targets in the Tumbes and Cardalitos formations.
WEDNESDAY 12
  • On 6 February the National Port Authority (APN) approved the technical file for the compulsory investment work, stages 1 and 2, of the Salaverry Multipurpose Port Terminal. The amount of investment of these works amounts to US$ 94 million (not including IGV) and contemplates a schedule of execution of works not exceeding 42 months.
TUESDAY 11
  • State oil company Petroperú has not yet decided how it will raise US$800 million in financing to complete the renovations of the Talara refinery, but it may consider sale and lease agreements for some assets, said a source familiar with the company’s plans, according to LatinFinance.
  • Anglo American Quellaveco submitted a supporting report proposing changes to some mining components at the Quellaveco (Moquegua) copper project.
  • In order to optimize time and resources, Camino Resources S.A.C. points out a modification in the location of the drilling platforms that it proposes to place in its Chapito II copper prospect, located in Arequipa.

 


To access our INFRASTRUCTURE PROJECTS NEWSLETTER, click here

If you need more information, please contact Milagros Maraví (mmaravi@rubio.pe) or

Carlos Arata (carata@rubio.pe)

 

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