29 Oct 2019

Projects – Weekly snapshot

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From Tuesday, October 22 to Monday, October 28, 2019

 

SPOTLIGHT

 

Proinversion would award seven projects for US $ 841 million in the remainder of 2019. Three links are contemplated in the energy and mining sector (Tingo María – Aguaytía 220 kV; La Niña Piura 500 kV; and Pariña – Nva. Tumbes 220 kV). According to the dates provided by the agency, they would be awarded on the 30th of this month. In addition, in the case of real estate, the award of non-agricultural lands of Chavimochic is also expected for next week.  On the massification of natural gas, the good pro would be granted in January 2020. On the other hand, the final version of the concession contract for the Huancayo-Huancavelica Railway project was published in September. For next year, the project portfolio is made up of 39 projects for US $ 6,512 million, including the awarding of projects such as the Peripheral Ring Road, Longitudinal Sierra Highway Section 4, AWS 3 and 2.3 GHz Bands and Loreto communications network (Diario Gestion).

 

MONDAY 28
  • Paracas Port Terminal plans to invest more than US $ 30 million in a mineral store that will move copper and zinc. It is projected that it will have an initial capacity of at least 100,000 tons of mineral per year (Diario Gestión).
  • Shougang will build a second pier for minerals in Ica. The mining company Shougang Hierro Peru is preparing the next construction of an iron mineral pier in the San Nicolás bay, in the province of Nazca (Ica), which could start operating in three years (Diario Gestión).
  • Pesquera Exalmar obtained authorization from the Regional Government of Lima to operate the Caleta de Carquín thermal power plant. It will have a power of 2.5 megawatts (Diario Gestión).
FRIDAY 25
  • In this second half of the year, the Southern Copper mining company announced that the development of its Tía María project, located in Arequipa, would begin in 2022 (Diario Gestion).
  • Apoyo & Asociados and Pacific Credit Rating decided to grant the ‘AAA’ rating with a stable outlook to the second corporate bond program of the Arca Continental Lindley bottling plant, which operates for a maximum amount of US$ 400 million in circulation (Diario Gestion).
  • Proinversion would award seven projects for US $ 841 million in the remainder of 2019. Three links are contemplated in the energy and mining sector (Tingo María – Aguaytía 220 kV; La Niña Piura 500 kV; and Pariña – Nva. Tumbes 220 kV). According to the dates provided by the agency, they would be awarded on the 30th of this month. In addition, in the case of real estate, the award of non-agricultural lands of Chavimochic is also expected for next week (Diario Gestion).
  • The Ministry of Transportation and the Republic of Korea finally signed the state-to-state contract, after three months since the Asian country was chosen to provide technical assistance -through a PMO -to the ministry during the design, construction stages and commissioning of the international airport of Chinchero (Diario Gestion).
THURSDAY 24
  • In the third quarter of the year the volume of sales of Cementos Pacasmayo registered an increase of 17.6%, while its revenues rose by 20.2% (Diario Gestion).
WEDNESDAY 23
  • Investment bank JP Morgan reaffirmed Southern Coper with a neutral rating, and considered share prices at US$ 33.56 as of October 17, as well as prior targets of US$ 32.00 for December 2020 (Diario Gestion).
  • PetroTal reported that it completed its first horizontal well in time, at a cost of 20% below the budget, with which the production of lot 95 has been exceeding 8,000 barrels per day (Diario Gestion).
  • SoftBank Group Corp seeks to acquire a controlling interest in WeWork. The accord values ​​the company at about US$ 8,000 million. The agreement would include an offer to buy up to US $ 3,000 million in shares of existing shareholders (Diario Gestion).

 


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

Carlos Arata (carata@rubio.pe)

 

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