Peru’s Chancay Port has officially commenced operations, marking a significant milestone in Latin American infrastructure and international cooperation. Virtually attended by Chinese President Xi Jinping and Peruvian President Dina Boluarte, the inauguration underscores the importance of the Belt and Road Initiative (BRI) in enhancing global connectivity.
The opening of Chancay Port is set to transform trade between China and Peru. With the one-way shipping time reduced to 23 days, logistics costs are expected to decrease by over 20 percent. This efficiency is anticipated to bolster trade activities and foster economic growth in the region.
The port represents a substantial investment of over $3.5 billion, reflecting a commitment to sustainable development and technological advancement. As the first smart and green port in South America, Chancay Port is equipped with state-of-the-art facilities that promote environmental sustainability while maximizing operational efficiency.
Beyond enhancing trade, the port is projected to create more than 8,000 direct jobs in Peru annually, providing significant employment opportunities and stimulating the local economy. The development of Chancay Port exemplifies how international collaboration can lead to mutual benefits and drive progress in global infrastructure.
Reference(s):
cgtn.com
