Peru seeks investment for gas pipeline, energy projects
Peru is seeking to double investments in energy and infrastructure this year, including a $1 billion natural-gas pipeline. The government is targeting $2.3 billion from foreign and domestic firms, up from $1.1 billion in 2008, said Luís Carlos Rodríguez, director of Proinversion, the state agency that seeks private investment. The investments would be earmarked for power lines, ports, railways, roads and irrigation projects.
The gas pipeline will run to the coastal port of Chimbote through Lima, supplying Renco Group's La Oroya copper, zinc and silver smelter; Gerdau SA's Siderperu steel mill, and fishmeal plants. Peru is the world's third-largest copper and zinc producer and first in silver and fishmeal. Peru also aims to award four power line concessions to bring on line 500 megawatts of electricity and provide incentives for the construction of new hydro-electric plants. Peru had blackouts last year after economic growth boosted energy demand. (Bloomberg, Jan. 23)