China’s Xi opens ‘megaport’ airport in Peru
China’s Xi opens ‘megaport’ airport in Peru . (MENAFN) Chinese President Xi Jinping, alongside Peruvian President Dina Boluarte, officially launched the Chancay Port in Peru on Thursday, marking a significant step in China–s Belt and Road ...
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(MENAFN) Chinese President Xi Jinping, alongside Peruvian President Dina Boluarte, officially launched the Chancay in Peru on Thursday, marking a significant step in China’s Belt and Road Initiative in South America. Located about 60 kilometers south of Lima, the port is a major deep-water facility with 15 berths and is expected to become a vital maritime hub for trade between South America and Asia.



The $1.3 billion project, developed by China’s Cosco Ports, is part of a broader vision to create a modern, efficient network spanning from Peru to the Caribbean and beyond. Xi hailed the Chancay Port as the first "smart port" in South America and a key milestone in the 21st-century maritime Silk Road, China’s global infrastructure drive. He emphasized that the port will not only foster economic growth in Peru but also improve trade routes by reducing shipping times to China to just 23 days and cutting logistics costs by 20%.



The project is expected to generate $4.5 billion in annual revenue and create over 8,000 direct jobs. Boluarte called the port’s opening a moment of national pride, viewing it as a critical part of Peru’s strategy to become a key international transshipment hub.



However, the port’s connection to China has raised concerns in the United States. US officials, including General Laura Richardson, have expressed fears that the Chancay Port could be used by China’s military for dual purposes, including hosting naval vessels and intelligence operations. Despite these concerns, the first ship from the port is set to depart next week, carrying Peruvian fruit to China.

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https://menafn.com/1108894488/Chinas-Xi-opens-megaport-airport-in-Peru
2024-11-17
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(MENAFN) Chinese President Xi Jinping, alongside Peruvian President Dina Boluarte, officially launched the Chancay Port in Peru on Thursday, marking a significant step in China–s Belt and Road ...
China’s Xi opens ‘megaport’ airport in Peru