January 21, 2020 / 7:41 PM / a month ago

Peru's Vizcarra plans $2.3 billion infrastructure investment drive

LIMA (Reuters) - Peru is planning to award infrastructure projects via public-private partnership worth around $2.344 billion by the end of President Martin Vizcarra’s government in mid-2021, the state investment promotion agency said on Tuesday.

Rafael Ugaz, president of the body Proinversión, said during a presentation that the projects given the green light would include construction of a railway in the Andes for $227 million and plans to develop a major natural gas network.

The investment drive will also include a $720 million drinking water scheme for capital city Lima and a highway in the central area of ​​Peru costing $464 million.

“We will focus all our energies on these projects. We are obsessed about them,” Ugaz said in a speech.

At the same presentation, Economy Minister María Antonieta Alva said the government was seeking to boost the awarding of infrastructure projects at a time when public and private investment in the country has slowed.

Proinversión has 10 more “mature projects” in its portfolio that are further away from moving ahead, but which would add up to a further investment of about $3 billion, Alva said.

Proinversión awarded only four projects worth $414 million last year, compared with eight projects worth $3.1 billion in 2018, according to official data.

Reporting by Marco Aquino in Lima; Writing by Adam Jourdan; Editing by Matthew Lewis

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