José Salardi Rodríguez: “In 2024, what was awarded as PPP this year will almost triple”

Although the objective in 2023 was US$3,000 million in public-private partnerships (PPP), the head of Proinversión, José Salardi, is optimistic about almost tripling in 2024 a goal that, in itself, had already been 24 times higher compared to last year, hand in hand with increasingly buoyant confidence in investment.

-How do we close 2023?

-It has been a positive year, an important turning point. For various reasons, the pace of PPPs had slowed, but this year the market has been very good, with quite solid work to generate trust both locally and internationally. It is so we have achieved the award of more than US$2,300 million.

-What is the challenge for 2024?

-Almost triple what it was this year. It is almost US$8,000 million and we are confident, because a simultaneous portfolio of 40 projects has been deployed. Progress is being made and milestones are being marked to reach APPs. March will be an interesting month and even more so the first quarter to take solid steps. It’s not an illusion, it’s quite tangible.

-It would be the record in 10 years. Why did APPs fall?

-It is no secret that the Lava Jato scheme hit a lot, even though it is an issue of specific companies and people. That does not mean that the mechanism is the best alternative we have as a country to develop infrastructure. The pandemic also generated a lot of noise around PPPs, but work continued silently.

-The APPs have been the workhorse of the MEF. Did Contreras ask you to step on the accelerator?

-Yes, the minister in general has given us the confidence to be in office and move forward. Undoubtedly, there is a constant interaction with him and his technical team. But the fact of accelerating does not mean being less rigorous either.

-But several of those projects from Q1 2024 should have been ready in Q4 2023.

-We have interacted a lot with him market and had events with potential interested parties. We have listened to them and on that basis come the suggestions to fuel the competition. They have asked us for a little more margin so that they can review, and they are not very lax deadlines: we do not stretch them unlimitedly. If they were for December, we are giving them maximum for March.

-Among them is Marcona.

-The port of Marcona will be declared of interest in December. We are closing the topic so that the Board of Directors I can approve it. This project, in particular, is likely to be awarded directly to the proponent [a la china Jinzhao Mining]because it is linked to the Pampa del Pongo mining project.

-And the Macho Train?

-The Huancayo-Huancavelica Railway is a long-awaited project for the country. We have worked intensely with the MTC this year and talked to the market to make it successful. That is why this postponement has occurred. The idea is to finish around the fortnight of January with the prequalification of biddersto award it, maximum, in March.

-Also the Ancón Industrial Park.

-Ancón is a project before the Chancay Megaport emerged, since Lima was looking for a park in the northern part of the city. Of course, it has gained relevance, and obviously the logistics corridor that will be in the area enhances it. Ancón’s goal is set on the first quarter, but a lot depends on how the market responds. The special economic zone (SEZ) proposed by the MEF would be a plus for its attractiveness.

-So what are the projects that will be declared of interest this December?

-This month we will have the declaration of interest for the Peripheral and Marcona Road Ring, an investment of approximately US$2.8 billion.

-What project do you regret not having awarded this year?

-It didn’t go well for us WWTP Puerto Maldonado. There were up to 4 pre-qualified, but in the end for different reasons it was not given. This has given us space to see the project in depth and discuss a lot with the market. For the first quarter of 2024 we also have this WWTP, and we are finishing the final adjustments to make the approvals required by the regulations. The 4 interested parties are waiting for the call.

-And the MTC order for the Dorsal Fiber Optic Network?

-We still do not have the formal order to see what stage we are going to enter. But the sector has an excellent team in the communications office to see what will be the best alternative for the project. We are willing to support in whatever way we can, and if we are entrusted with the structure stage to put it on the market and have the award, perfect. Since the previous administration with Minister Lazarte they have been looking for us.

-And for the period between 2025-2026?

-For those years We have more than US$6,000 million until todaybut it will still grow.

-There we have the SIT-Gas.

-Yeah. In January, the process for the SIT-Gas consultant would be launched to allow us to mark the required studies. We have been defining the terms of reference with Minem. It has the complication of being in arbitration and several issues that must be defined. We are looking at the route we have been given to reevaluate the scheme.