These 10 megaprojects will change the country, generate jobs and increase the competitiveness of the economy

Peru is in a stage of transformation thanks to the implementation of 10 infrastructure megaprojects that promise to revolutionize the national economy. These initiatives, valued at more than $13 billion, have the potential to close significant gaps in various sectors, thus boosting the country’s competitiveness and productivity.

The megaprojects underway range from port and airport expansions to the construction of new transportation routes and electrical transmission systems. These works not only improve connectivity and services in the country, but also promote sustainable growth by facilitating access to markets and encouraging investment.

How will these 10 projects benefit the country?

The implementation of 10 strategic plans will have a significant impact on the generation of formal employment and economic competitiveness in the country.

Silvana Huanqui, an expert from the School of Public Management at the Universidad del Pacífico, explained to Andina that these projects are linked to closing gaps in infrastructure, which will boost the country’s productive capacity and generate employment. In addition, investments in public infrastructure will foster capacity development, closing social gaps in the short and medium term.

What are the 10 megaprojects that will change the face of Peru?

1. Chancay Multipurpose Port Terminal: With an investment of 3 billion dollars, this project seeks to improve the country’s port capacity. Its inauguration will take place within the framework of the Asia-Pacific Economic Cooperation (APEC) Summit, from November 10 to 16, 2024.
2. Majes Siguas II: With 654 million dollars, this agricultural project would restart works in the coming months and will allow 38,500 hectares to be irrigated for agro-export crops, benefiting 350,000 families.
3. Bicentennial South Pier Port Terminal: Investment of 731 million dollars to expand the dock and improve port facilities in order to provide the terminal with the largest cargo capacity on the west coast of South America.
4. Line 2 of the Lima and Callao Metro: With 5.346 million dollars, this work is projected to move 660,000 passengers daily, and in the future it is expected to reach 1.2 million passengers per day.
5. Expansion of the Jorge Chávez International Airport: 1.2 billion dollar project to double airport capacity from 15 to 30 million. The estimated completion date is December 2024.
6. Nueva Yanango-Nueva Huánuco and Mantaro-Nueva Yanango-Carapongo transmission links: With 544 million dollars, it will improve the electric transmission.
7. Sun Highway: Investment of 720 million dollars to rehabilitate and improve the road that will connect Lambayeque, La Libertad and Piura. A saving of two hours is estimated on the journey from Trujillo to Sullana.
8. Oyón-Ambo Highway: With 293 million dollars, this project will improve road connectivity and benefit some 140,000 people in the regions of Lima, Pasco and Huánuco.
9. Chinchero International Airport: With an investment of 578 million dollars, it will boost tourism and the economy in the region. However, due to delays in the work, it would be completed by March 2026.
10. Road Network No. 4: 400 million dollar project to improve road infrastructure.