Wednesday, January 8, 2014

Perú: Energy/Mines Ministry to Invest $7.3 Billion in Infrastructure in 2014

According to The Latin American Tribune, the Energy and Mines Ministry has asked the Private Investment Promotion Agency (ProInversion) to move ahead with projects worth $7.3 billion, with an additional $800 million in investment expected for rural electrification projects

Investment in energy projects is projected to total $8.1 billion in Perú this year, bolstering the Andean nation’s development and competitiveness, the Energy and Mines Minister Jorge Merino announced. 

COMMENT: ProInversion is working on a southern pipeline, the addition of hydroelectric power plants with 1,100 MW of generating capacity and transmission lines, among other projects, this year, Merino emphasized.

“As far as investment committed to transmission, there is a pipeline to bring liquefied petroleum gas (LPG) from Pisco (in Ica region) to Lurin (in Lima region), thus improving reliability, the price of LPG and the storage capacity of the oil terminals all along the coast,” Merino said.

Roughly 50% of the projects approved by ProInversion in 2013 were in the energy sector, with investment totaling some $2 billion.

“This year we will likely approve projects totaling some $7.3 billion. More than three times what we approved last year,” the energy and mines minister said.