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Peru Extends Matarani Port Concession to 2059 in $700 Million Expansion Deal

The 30-year extension sets a 2027 start for major works following studies and permits slated to finish in 2026.

Overview

  • The addendum was signed at the Government Palace with President José Jerí after a two‑year technical and legal review involving MTC, MEF, ProInversión and OSITRAN.
  • The investment package centers on a new multipurpose pier and two breakwaters, plus a minerals warehouse, a container yard, modernization of the ABC berth and new electric mobile cranes.
  • Tisur will sign detailed engineering contracts immediately, complete studies and environmental authorizations in 2026, then launch the main construction phase in 2027.
  • Roughly US$350 million is planned to be executed by 2029, with the new pier boosting throughput about 25% initially and total capacity rising by up to about 60% once all works are delivered.
  • The upgrades aim to ease current congestion near 70% utilization toward a 40%–50% range and to serve major mining flows including Zafranal and Tía María.