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The Government of Peru has intensified its contacts with companies in India to attract capital to the Corío Port project, a terminal with a natural depth of 28 meters capable of receiving the largest draft vessels to ensure the flow of minerals to the Indian market.
"We are talking with several Indian companies and the project is being evaluated," Peru's ambassador to India, Javier Paulinich, confirmed to EFE, explaining that the objective is for investors to integrate into the project once the bilateral Free Trade Agreement (FTA) is concluded.
Located in Punta de Bombón, in the Arequipa Region, Corío projects a cargo capacity of 100 million tons annually. According to the proposal presented to local business groups, the terminal would provide an outlet for copper and gold from southern Peru, lithium from Bolivia and the so-called lithium triangle (Chile and Argentina), copper from northern Chile, and agricultural production from Brazil and Argentina.
"This gives India an opportunity to establish its own logistics platform on the Pacific coast of South America, ensuring direct access to critical minerals and agricultural products from across the continent," added the Peruvian diplomat.
Compared to the Port of Chancay, inaugurated in 2024 with the participation of the Chinese state-owned Cosco, Paulinich stressed that Corío has been designed as an entirely private project. This structure would allow Indian operators to manage their logistics flows in the Pacific without depending on infrastructure with the participation of third-party states.
According to the United Nations Comtrade database, India's imports from Peru reached 4.69 billion dollars in 2024, of which more than 90% were precious metals.
Peru is currently the world's second-largest exporter of silver and copper, inputs that New Delhi requires for its semiconductor and electric vehicle industries.
The project, which will be located in the province of Islay, was reactivated in November by the ProInversión agency, which signed an agreement with the regional government and the Ministry of Transport and Communications (MTC).
The work requires an estimated investment of 7 billion dollars and is in the technical evaluation phase to define the definitive concession scheme.
Last February, India already signed a pact with Brazil for joint mineral exploration, while the Narendra Modi Government is finalizing the expansion of its trade agreement with Chile to ensure access to lithium.
