The directory of the volcano mining company approved the financing Cosco Shipping Ports Chancay Peru SA. to promote the development of Chancay multipurpose port project up to US$975 million, according to what the company announced to the Stock Market Superintendence through an important event.
The mining company also reported that it approved an addendum to the shareholders’ agreement (Third Supplemental Agreement to the Shareholders’ Agreement) signed with Cosco Shipping Ports (Chancay) Limited; Cosco Shipping Ports Limited and Cosco Shipping Ports Chancay Peru.
In addition, it communicated the approval of guarantees to be granted for the financing for the development of the Chancay Multipurpose Port Project.
It should be noted that in January 2019, the Volcan mining company and the Chinese company Cosco Shipping Ports Limited (CSPL) signed the agreement for the construction of the Chancay megaport. In this way, through Cosco Shipping Ports (Chancay) Limited, the Chinese company will have 60% of the shares of Terminales Portuarios Chancay, while the remaining 40% will belong to Volcan.
In accordance with the master plan of the project, agreed between both companies, the development of this project will be carried out in stages, with an estimated total investment of US$3,000 million.
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