On April 16, a letter signed by Chen Lihui, general manager of Cosco Shipping, parent company of Cosco Shipping Ports Chancay Perú SA, arrived at the offices of the Ministry of Economy and Finance (MEF) and the Foreign Ministry (CSPCP), in which it reports the beginning of a six-month negotiation period, within the framework of the FTA with China, to find a solution to the controversy over the exclusivity of services at its terminal north of Lima. The Peruvian government has not approached the company.
“To date, three weeks after the communication to initiate the invoked mechanism was notified, not only have we not received any response from representatives of the State, but officials from Ositran “They maintain public interventions with arguments on their part, which we believe should be the subject of analysis and discussion in the process expressly designed for this purpose,” the company that has been developing and building the Chancay Multipurpose Port.
They added that, close to the operation stage, the project is being seriously affected by a change in the regulatory scheme and by interpretations on the part.
“These actions not only modify the form of provision of port services, but also seek to impose regulatory conditions applicable to publicly owned ports (operated or concessioned by the State),” the statement states.
In that sense, Cosco Shipping reaffirmed that they have seen the need to initiate actions to defend their right to provide port services in its terminals, under the form in which they were agreed upon at the beginning of this investment, which in the first stage alone already amounts to US$1.3 billion.
“We call on the authorities of the Executive Branch to implement the institutional channel of dialogue to resolve the controversy generated. (…) Investment, the driving force of said development, requires conditions of legal stability and predictability,” highlights Cosco.
Cosco will have exclusivity
Days ago, the head of the Ministry of Transport and Communications (MTC), Raúl Pérez-Reyes, told a local media outlet that Cosco Shipping will have no problems implementing exclusivity of services at the Chancay Megaport.
In this regard, he specified that the modification of the National Port System Law, approved on first vote a few weeks ago in Congress, “will allow us to turn the page in relation to this debate around exclusivity”. The second vote is still missing.
“We believe that the conditions would already be established in relation to the problem that existed. The law will allow exclusivity for a port authorization; then, the rule will be applied and Cosco Shipping will implement exclusivity in Chancay without any problem, having a law as protection and not an interpretation within the framework of a directorial resolution. This guarantees legal security for investments,” said Minister Pérez-Reyes.
Authorizations obtained in 2021
The company reported that, based on the authorization obtained in 2021, CSPCP made decisions on the modification/expansion of the magnitude of the project, technology to be used and amount of the investment, which is estimated at approximately US$1.3 billion in this, its first stage.
It is estimated that The first stage of this port megaproject will culminate in Novembera moment that coincides with the Summit of Leaders of APEC Peru 2024which will take place in our country.
The official visit of the President of China, Xi Jinping, is planned.
Source: Larepublica
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