The port of Corío, situated in southern Peru, is emerging as a potential hub for South American trade, drawing attention from international investors. With the success of the Chancay mega port, Corío could further integrate the Peruvian port system, attracting investments from countries like China, the US, South Korea, and Portugal. North American firms have already shown interest.
Chancay's development marked a turning point, and Corío could further revolutionize regional trade. The establishment of these ports positions Peru advantageously compared to countries like Chile, Brazil, Argentina, and Mexico. "Chancay helped us a lot because now Peruvians understand the importance of ports. And we must understand that Corío will consolidate the national port system, due to Peru's deep water morphology, which is not the case in countries in the south or north," stated Mario Zúñiga Martínez of the Arequipa Development Agency.
Peru's National Port Authority (APN) president, Juan Carlos Paz Cárdenas, views Corío as a "key piece" for enhancing national logistics and international connectivity. "Corío is included as a port development area in our plan. We want it to become a reality," he noted. The port could receive cargo from Bolivia, Brazil, and other regions.
Challenges persist, particularly regarding technical and financial aspects. The APN indicates water depth as a critical factor, with studies suggesting depths between 16 and 18 meters could suffice for deep-draft vessels. The project is part of broader port modernization efforts, including ports like Matarani and Callao. Peru's free trade agreements with 23 economies, representing over 3 billion people, underscore the strategic importance of such developments. "Peru has room for more ports," said Paz Cárdenas.
Source: Blueberries Consulting