Peru to invest over US$1 billion in infrastructure projects by June

Peru’s Private Investment Promotion Agency (ProInversion) has allocated more than US$1 billion to six Public-Private Partnership (PPP) and Asset Projects in the first half of 2023, according to a report by the agency.

The investment surpasses the US$656 million dedicated between 2019 and 2022, indicating a renewed confidence from local and international private investors in the Peruvian economy.

The Ica – Poroma Electric Transmission Line and the Jaén – Cáclic Transmission Line are among the projects benefiting from this investment.

It will provide reliable electric energy to over 370,000 people in the regions of Ica, Cajamarca, and Amazonas with an investment of nearly US$73 million.

Additionally, US$640 million has been allocated to improve telephone and 4G internet access for 3,825 rural communities in Peru.

Coastal and northern localities in Piura and Chimbote will receive a US$323 million boost for their public hospitals, benefiting around 1.6 million Peruvians.

ProInversion plans to award new projects in the second half of 2023, with a focus on electricity plans, totaling over US$2 billion.

The agency aims to award approximately 18 PPP projects and Projects in Assets, with a total investment exceeding US$3 billion for the year.

The objective is to bridge the infrastructure gaps and provide public services to reduce inequality in one of South America’s most unequal countries, as highlighted in the Global Inequality Report 2022 conducted by the World Inequality Lab.