18 Nov 2019

Projects – Weekly snapshot

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From Tuesday, November 12 to Monday, November 18, 2019

 

SPOTLIGHT

 

Minera Poderosa plans to increase ore processing in La Libertad. The company Minera Poderosa plans to increase the levels of ore processing of its Santa María and Marañón plants over the next five years, with the aim of maintaining its gold production levels in the Batolito de Pataz, area where it operates. In 2019, the company’s production would reach 310,000 ounces of gold. However, it is estimated that gold production will be 300,000 ounces by the years 2020 and 2021 and will later increase to about 330,000 ounces. The decrease in production next year will be due to variations in the ore grade. There is a potential of 7 million ounces of gold in the Batolito, which ensures the production of gold up to 2050 (Diario Gestión).

 

MONDAY 18
  • Minera Poderosa plans to increase ore processing in La Libertad. The company Minera Poderosa plans to increase the levels of ore processing of its Santa María and Marañón plants over the next five years, with the aim of maintaining its gold production levels in the Batolito de Pataz, area where it operates (Diario Gestión).
  • The Israeli firm Gilat Satellite Networks Ltd. was awarded a five-year project for US $ 10 million for 3G / 4G backhaul services in Peru (Diario Gestión).
  • The company Frontera Energy registered a 6% increase in its production in the third quarter, compared to the same period of 2018, driven by its growth in its lots in Colombia and Peru, which represent production of 70,213 barrels of oil equivalent per day (Diario Gestión).
  • The Chamber of Commerce and Industry of Arequipa supports the development of a project for the construction of a cable car in Arequipa (Diario Gestión).
  • The Eten port modernization project will be included in the Ministry of Transportation and Communications portfolio so that ProInversión starts the public tender so that the work of more than US $ 500 million is executed, which will be concessioned for about 30 years (Diario Gestión).
FRIDAY 15
  • Peruvian Fintech Innova Funding, which connects companies with investors, reached the accumulated figure of US$ 32 million in transactions on its online factoring platform; In the third quarter alone, it mobilized more than US$ 11 million, 500% more than the same period of 2018 (Diario Gestión).
THURSDAY 14
  • Under the tax works mechanism, the investment project “conditioning of the tourist circuit of the archaeological complex El Brujo, in the Magdalena de Cao district of the La Libertad region”, is executed with an investment of more than US$ 1 million, in co-execution between the Ministry of Culture and the Regional Government of La Libertad, being the Panamerican Real Estate company in charge of carrying out the initiative (Diario Gestión).
  • Saudi oil company Aramco has announced that it will offer 0.5% of its shares to individual investors and set the subscription period between November 17 and 28. Aramco produces 10% of the oil extracted in the world and is the backbone of the Saudi economy since its nationalization in 1970 (Diario Gestión).
WEDNESDAY 13
  • Between the middle and the end of this month the new construction consortium will be known to begin the cleaning work corresponding to the expansion of Jorge Chavez airport, Lima Airport Partners reported (Diario Gestión).
  • Gasnorp (Quavii) signed the concession agreement for the natural gas distribution system through pipelines in the Piura region. With this, you can start the engineering and construction of the system that will take this resource to homes, businesses, service stations and industries in the region (Diario Gestión).
  • The Chinese company Yangtze Power Co obtained a loan of US$ 4,000 million for the purchase of Sempra Energy’s assets in Peru (Diario Gestión).
TUESDAY 12
  • The Minister of Transportation, Edmer Trujillo, indicated that the proposal of the Regional Government of Junín for the construction of a “new Central Highway” is being evaluated. Likewise, he informed that the project “Carretera Central, Huaycan, Cieneguilla, Santiago de Tuna, San Andres de Tupicocha, San Damián, Yuracmayo, Yauli, Pachachaca”, whose investment is estimated at US$ 4 million and is in the evaluation stage (Diario Gestión).
  • In the coming months, the Ministry of Transportation and Communications will define how its awards lines 3 and 4 of the Lima Metro (Diario Gestión).

 


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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