Cosco Shipping responds to the MTC: lawsuit affects the legal stability of investments

Cosco Shipping responds to the MTC: lawsuit affects the legal stability of investments

The Chinese firm questions the actions of the national authority, three years after reaching the agreement to move more than US$1.3 billion in the first stage of the port.

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Following the complaint filed by the Public Prosecutor of the Ministry of Transportation and Communications regarding the port authorization of the Port of Chancay, the Cosco Shipping firm presented its defense, alleging that the legal stability of the investments would be violated.

Through a statement, they stated that the demand refers to the essential services to be provided within the port, such as pilotage, towing and refueling, among others.

And, since 2021, after “an exhaustive process according to the required legal framework,” it was agreed that the partners would invest US$1.3 billion for the first stage of the project.

“Although the work will have great public utility, the port of Chancay is a private infrastructure in which its shareholders fully invest,” they noted.

They recalled that the lawsuit falls on a resolution that was publicly known and that, three years later, is issued by the authority that issued it, which “affects the security and legal stability of the investments.”

Cosco Shipping added that they will evaluate the impacts of this measure on the development of the project and that they will participate in this process upon receipt of the corresponding notification.

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Trained at the Jaime Bausate y Meza University. In constant learning. Economics is the branch of journalism closest to the people and my duty is to be a bridge to information.

Source: Larepublica

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