Transportation
Chinese Port in Peru Faces Surprise Challenge to Business Model
- Regulator trying to revoke status as single operator facility
- Cosco has invested $1.3 billion in project north of Lima
China’s $1.3 billion port in Peru is facing a surprise challenge that could upend its business model, just months before its inauguration later this year.
Peru’s port authority said last week that Cosco Shipping’s Chancay port was mistakenly granted exclusivity over the services to be offered on site. Now, the regulator is saying the facility should be open to other companies offering services such as loading and unloading shipping containers.