UPDATE 1-Peru's PM says China-built megaport should launch this year after dispute [Yahoo! Finance]
COSCO SHP HLDG UNSP/ADR (CICOY)
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Source: Yahoo! Finance
LIMA, April 4 (Reuters) - A resolution to end a dispute between Peru and China's Cosco Shipping could come as soon as this week to ensure a megaport will start operations as planned by the end of the year, Peru's Prime Minister Gustavo Adrianzen said on Thursday. The Peruvian port authority said in March it hoped to annul its decision granting exclusivity of the port's operations to Cosco, citing an "administrative error." Cosco, which is investing $1.3 billion in the first stage of the terminal, has said the push affects the "security and legal stability of investments." On Thursday, Adrianzen said in an interview with local radio station RPP: "I trust, though I don't want to get ahead of myself, that this week or next week everything should be resolved in a positive way and all these gray clouds will be cleared." The construction of the port at Chancay, some 46 miles (74 km) north of Lima, is at least 70% complete, according to Cosco, which hopes to inaugurate it during the
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News
- Peru seeks to avoid arbitration over Chinese-built mega port [Reuters]Reuters
- Container Shippers Lost Nearly $700 Million in Q4 2023 [Yahoo! Finance]Yahoo! Finance
- Peru PM says China-built megaport should launch this year after exclusivity dispute [Yahoo! Finance]Yahoo! Finance
- Chinese Lenders Raise Concerns About $1.3 Billion Peru Port Deal [Yahoo! Finance]Yahoo! Finance
- Chinese Lenders Raise Concerns About $1.3 Billion Peru Port Deal [BNN Bloomberg (Canada)]BNN Bloomberg