Peru resolves Chinese megaport dispute as president prepares to meet Xi
- A lawsuit challenging Chinese state-owned firm Cosco’s status as the exclusive operator of the US$1.3 billion facility has been dropped
Peru and a Chinese state-owned company resolved a dispute over the business model of a massive US$1.3 billion port ahead of a meeting between the presidents of both countries this week.
China’s Cosco Shipping has been building the Chancay port near Lima expecting to be its exclusive operator when it opens in November.
But government lawyers sued to challenge that status earlier this year, saying the facility should be available to other companies offering services such as loading and unloading shipping containers.
The surprise lawsuit was criticised by the company, Chinese lenders and Peruvian industry groups that argued virtually all other ports in the South American country have exclusive operators. President Dina Boluarte’s government now says the issue has been resolved and the lawsuit will be dropped.
“Their exclusivity is now a fact and the issue of the lawsuit is history,” Juan Carlos Paz, head of Peru’s port authority, said in an interview.
