Bloomberg News

Peru Seeks Investors in $530 Million Chinecas Irrigation Project

May 02, 2012

Peru will seek investors for a 1.4 billion soles ($530 million) irrigation project on the country’s northern coast as it seeks to boost agricultural exports, Cabinet Chief Oscar Valdes said.

The Chinecas project in Ancash will create 90,000 jobs and boost the Andean country’s hydroelectric output, Valdes said in an e-mailed statement. The project will involve public and private investment, he said.

Peru is the world’s largest exporter of asparagus, organic bananas and organic coffee, according to the government’s private investment promotion agency known as Proinversion. Agricultural produce accounted for $2.83 billion of its $46 billion of exports last year.

To contact the reporter on this story: John Quigley in Lima at jquigley8@bloomberg.net

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net


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