28 Apr 2020

Projects – Weekly snapshot

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From Tuesday, April 21 to Monday, April 27, 2020

 

SPOTLIGHT

 

Government intends to restart large projects in order to revive construction

 

The Ministry of Economy and Finance (MEF) defined that the two key sectors to restart the dynamism of production in Peru are the primary one, with mining and milling, and infrastructure.

 

According to MEF calculations, if these sectors begin to operate gradually, it can lead to the country’s production potentially rising to 60% of gross domestic product.

 

The intention is for mining to start producing from the 19% of capacity that it currently has to 85%, while the infrastructure leaves the total paralysis that the sector has today to operate at 53%. Fishing would go from 36% to 48% (Diario Gestion).

 

MONDAY 27
  • The SBS gave the authorization to issue and administer credit cards to the Caja Municipal de Ahorro y Crédito Cusco, making it the first municipal savings bank to obtain this permit (Diario Gestion).
  • The Peruvian startup Abaxto, whose platform optimizes the commercial operations of retailers and distributors, had a 20% growth in its operations in Peru, Chile and Puerto Rico. In this sense, given the demand for products, it plans to expand its market to the United States (Diario Gestion).
FRIDAY 24
  • Anglo American requested that they suspend work on the development of the Quellaveco (Moquegua) copper project for a period of three months. This decision, they indicated, is in compliance with the restriction measures for the health emergency in the outbreak of Covid-19 (Diario Gestion).
THURSDAY 23
  • Perupetro is preparing a crisis plan that contains various measures to improve the situation of the local hydrocarbon industry, affected by falling prices and fuel demand (Diario Gestion).
  • Technical Automation Service (Astech), which manufactures machinery for the food and beverage industry, began work on the design and production of stainless steel pedestrian disinfection booths (Diario Gestion).
WEDNESDAY 22
  • The Ministry of Production has defined 16 industrial activities linked to essences to start operations. Among them, there would be those related to the so-called essentials that are being developed, such as those that provide food products, medicines, among others (Diario Gestion).
  • Newmont hopes to restart activities in the next few days in some of the four Canadian and South American gold mines that closed last month to stop the spread of Covid-19 (Diario Gestion).
TUESDAY 21
  • Government intends to restart large projects in order to reactivate construction. The Ministry of Economy and Finance defined that the key sectors to restart the dynamism of production in Peru are the primary, with mining and fishing, and infrastructure (Diario Gestion).
  • Car sales could increase due to mistrust in public transport (Diario Gestion).
  • Alibaba Group Holding Ltd. will invest US$ 28 million in cloud infrastructure over the next three years in order to improve electronic commerce (Diario Gestion).
  • Pluspetrol Norte suspended operations in lot 8, located in Loreto, in order to protect the health of its workers and members of neighboring communities and populations (Diario Gestion).
  • Despite the expansion of the Covid-19, the market could continue to be attractive for transactions, especially in the agricultural sectors, in addition to health, food and pharmacy (Diario Gestion).
  • Fibra Prime will redirect its acquisition plan to properties more resilient to the impact of the health crisis (Diario Gestion).
  • The port operator Cosco Shipping estimated that between the end of July and the beginning of August the construction of the expanded works will begin in the port of Chancay, a multipurpose dock that will have an investment of more than US$ 1,100 million (Diario Gestion).

 


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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