COSCO SHIPPING Ports Limited (”COSCO SHIPPING Ports” or “CSP” or “Company”, HKEX stock code:1199), a leading ports operator in the world, today announced that COSCO SHIPPING Ports PERU (Chancay) Project Official Transfer Ceremony and COSCO SHIPPING Ports Chancay PERU S.A. Promotional Event were officially held in Peru on 13 May (Local time in Peru).
The equity transaction of the Project Company was officially completed on 10 May 2019. Port of Chancay is the Company’s first greenfield subsidiary in South America and COSCO SHIPPING Ports is dedicated to developing it to an important gateway port in South America.
Mr. Martín Vizcarra, President of Peru, Ms. María Esperanza Jara Risco, Minster of Transportation and Communications of Peru, Ambassador Nestor Popolizio, Minister of Foreign Affairs of Peru, Mr. Edgar Vasquez, Minister of Foreign Trade and Tourism of Peru, Ms. Li Yun, charge d'affaires of Chinese Embassy in Peru, Ms. Hao Qinmei, Economic and Commercial Counsellor of the Embassy and Captain Xu Lirong, Chairman of China COSCO Shipping Corporation Ltd. (“COSCO SHIPPING”) joined the ceremony. At the signing ceremony held in Peru, Mr. Zhang Wei, Chairman and Managing Director of COSCO SHIPPING Ports and Mr. José Picasso, Chairman of Volcan Compañía Minera S.A.A. (“Volcan”) signed the closing certificates on behalf of the two parties.
On 23 January 2019, COSCO SHIPPING Ports officially signed the subscription and investment agreement with Volcan to acquire stake in Port of Chancay. Peru has great potential in economic development. Located 58 km in the north of the Peruvian capital of Lima, Port of Chancay enjoys favorable location where it has easy access to the economic centre of Peru. About 60% of Peru's economic activities are concentrated in Lima and its surrounding areas, and thus, the favourable geographic location of Lima is of strategic importance. Port of Chancay is a natural deep-water harbour with a maximum of 16 meters water-depth and is capable of satisfying the needs of mega vessels. The construction of Port of Chancay includes multi-purpose terminals, container terminals and related infrastructure facilities. Phase one of the terminal will have four berths, of which two are multi-purpose berths, and two are container berths with a total annual designed capacity of one million TEU.
The ceremony was witnessed by Mr. Martín Vizcarra, President of Peru (centre), Ms. María Esperanza Jara Risco, Minster of Transportation and Communications of Peru (the third from the left), Ms. Li Yun, charge d'affaires of Chinese Embassy in Peru (third from the right), Captain Xu Lirong, Chairman of COSCO SHIPPING (the second from the right) and Mr. José Ignacio de Romaña Letts, Vice Chairman of Volcan (the first from the left). Mr. Zhang Wei, Chairman and Managing Director of COSCO SHIPPING Ports (the first from the right) and Mr. José Picasso, Chairman of Volcan (the second from the left) signed the closing certificates on behalf of the two parties.