The Chancay megaport promises to transform the Peruvian economy, given that it will generate a million-dollar impact and create thousands of direct jobs. This ambitious project, in which Volcan and Cosco Shipping Ports have participation, is presented as a key pillar for the country’s logistical and commercial development.
It should be noted that Volcan decided to create a separate entity to manage the maritime terminal that will operate under the name Inversiones Portuarias Chancay SAA. This decision will open the way for the project to be consolidated in the stock market. Learn how to acquire shares and be part of this project that promises a significant economic impact.
What will be the economic impact of the Chancay megaport?
The Chancay port terminal will have a significant economic impact, and will generate $4.5 billion annually, which is equivalent to 1.8% of the gross domestic product (GDP) of Peru, as explained by the Minister of Production, Sergio González, in a previous interview with El Peruano.
This megaport will not only boost the economy, but will also create approximately 8,550 direct jobs, which will position Peru as an economic leader in the region thanks to its proximity to the economies of the Asia-Pacific.
Exchange of shares in the port of Chancay: what is it about?
Until May 21, Volcan shareholders can exchange one share of the mining company for one of the port of Chancay. On May 23, this exchange will take place, and two new classes of Chancay shares will be issued, called class A and B, which will be linked to Volcan’s class A and B shares, respectively.
Then, Volcan’s existing shares will remain, although with a nominal value reduced from 0.66 to 0.55 cents. At the same time, one share of the port of Chancay with a nominal value of 10 cents will be delivered. This operation will not directly involve the public, but only the shareholders of Volcan, who will receive their participation in the port of Chancay and will be able to sell these securities to third parties later.
How can you invest in the Chancay megaport?
Investors who wish to acquire shares of the port of Chancay may do so in the secondary market through regulated intermediaries.
The Lima Stock Exchange (BVL) is not directly in charge of the purchase and sale of shares; This function corresponds to the Stock Broker Companies (SAB). These institutions will provide an advisor to guide the investor and help find matches between the market price and the client’s offer.
Chancay megaport: which economic sectors will benefit?
The Chancay port terminal will boost various economic sectors in Peru. In the fishing sector, it will boost the canning and freezing industry, in addition to the flour industry, thus generating 450 million soles and 1,200 jobs.
In the manufacturing industry, the impact will occur mainly in the food, beverage, metalworking and furniture sectors, with an economic movement of 4.2 billion soles and 6,000 direct jobs.
Source: Larepublica
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