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Peruvian mining firm Fosfatos del Pacífico del Perú (Fospac) has signed an agreement with state-owned firm Activos Mineros SAC (AMSAC) to invest $940 million in the Bayóvar phosphate mining concession over the next 10 years. The Bayóvar mine has a production capacity of 2.5 million tons per year of rock phosphate, which is used in agricultural production in Peru's Piura region. Fospac acquired a majority stake in 2012, and the Ministry of Mines and Energy recently revealed a mining exploration portfolio valued at $644 million, consisting of 75 projects across Peru. [Extracted from the article]

Peru's investment promotion agency, ProInversión, has signed a contract with the Iquitos Sanitation Consortium to conduct studies for a wastewater treatment project in the city of Iquitos. The project, estimated to cost S/400 million ($103m), aims to benefit around 400,000 people in the urban area of San Juan Bautista, Iquitos, Belén, and Punchana. ProInversión plans to tender six water and sanitation public-private partnerships (PPPs) across Peru, with a total value of over $400 million, in collaboration with the Ministry of Economy and Finance. [Extracted from the article]

Mining investments in Peru have exceeded $1.3 billion in 2024, generating nearly $14 billion in revenue. The Ministry of Energy and Mines stated that mining revenues account for 65% of all foreign currency from national exports this year. Peru's vice minister of Mines, Henry Luna Córdova, reported that tax collection in the first four months of the year reached 6.932 billion soles, resulting in 2.895 billion foreign currency for the regions. The Ministry of Energy and Mines also disclosed a mining exploration portfolio valued at $644 million, consisting of 75 projects across 17 departments in Peru. [Extracted from the article]

Peru's investment promotion agency, ProInversión, is working on a public-private partnership (PPP) project to construct the Via de Evitamiento de Cusco bypass. The project will cover a distance of 14.1km and is estimated to cost $891 million. The bypass will pass through several districts and form part of the Longitudinal Highway of the Sierra Sur, benefiting more than 400,000 people. The project will include the construction of a twin tunnel, viaducts and bridges, and two road interchanges. This project is one of 22 PPP projects being developed by ProInversión in collaboration with Peru's Ministry of Transportation and Communication, with a total value of over $3.5 billion. [Extracted from the article]

Peru's investment promotion agency, ProInversión, is set to award three transmission projects worth a total of $329 million this month. These projects aim to enhance the integration of renewable energy into the national grid and will benefit over a million people in the regions of Ica and Arequipa. The projects include the construction of new substations and the expansion of existing ones. Five bidders, including Celeo Redes, Cobra Instalaciones y Servicios, Interconexión Eléctrica (ISA), Alupar Perú, and the OA consortium, have been prequalified for the auction process. The winning bidders will be responsible for the design, construction, financing, operation, and maintenance of the projects for the next 30 years. [Extracted from the article]

Actis, an investment firm, has launched an energy platform called Orygen in Peru after acquiring Enel's Peruvian generation business. Orygen consists of a diverse energy generation portfolio with 2.2GW capacity, including solar, wind, hydroelectric, and thermal gas assets. Additionally, there is a development pipeline of renewable projects with a capacity of 12GW. Marco Fragale has been appointed to lead the platform, and Actis plans to mobilize capital behind the business plan. Actis also owns energy platforms in Brazil and Mexico. [Extracted from the article]

Peru's investment promotion agency, ProInversión, will be overseeing the procurement of two educational infrastructure projects in the Cusco region. These projects, valued at a total of S/63 million ($16 million), involve the modernization and expansion of the UGEL of Espinar and the Technological Higher Education Service of Velille. The projects will be tendered under the "works for taxes mechanism," where private firms advance their income tax payment to deliver the project. Additionally, ProInversión is also overseeing the procurement of the Víctor Ramos Guardia Hospital concession, which is valued at S/1.04 billion ($275 million) and is the largest national "works for taxes" project in Peru to date. The state government of Peru's Áncash region has prioritized bringing the hospital to market after a special session in July 2023. [Extracted from the article]

Peru's investment promotion agency, ProInversión, is in the process of structuring two 5G connectivity public-private partnerships (PPPs) worth $845 million. The projects will involve the 5 GHz Frequency Band and the 26 GHz Frequency Band, with each band having a 20-year concession term. The PPPs aim to improve mobile and internet services in Peru, promoting digitalization and connectivity. Additionally, ProInversión is also developing a group of airports using the PPP model, including airports in Jaén, Huánuco, Jauja, Ilo, Rioja, Chimbote, Yurimaguas, and Chinchero. [Extracted from the article]

Peru's investment promotion agency, ProInversión, will be developing a pediatric oncology facility project worth S/921 million ($239 million). The facility will have 200 beds and will provide cancer care and rehabilitation for children and adolescents. It will include infrastructure, equipment, health information systems, and healthcare institutions for early cancer detection. The hospital will cover an area of 7,500 square meters and will be procured through Peru's "works for taxes" mechanism. Additionally, ProInversión has recently awarded another hospital project, the Víctor Ramos Guardia Hospital, to Win Empresas and Soluciones Alimenticias. The consortium will be responsible for financing, construction, and maintenance of the S/1 billion ($287 million) hospital. [Extracted from the article]

Peru has awarded the Víctor Ramos Guardia Hospital concession to Win Empresas and Soluciones Alimenticias. The consortium will finance, construct, and maintain the hospital, which is estimated to cost $287 million. The project will be completed in two phases, with each phase lasting five years. The hospital, located in Huaraz, will be the largest works for taxes project in Peru and will benefit over 1.8 million people in the Áncash region. It will provide specialized health services and have a capacity of 288 beds. [Extracted from the article]

Peru's Private Investment Promotion Agency, Proinversion, is planning to develop a group of regional airports in the country using the Public-Private Partnership (PPP) model. The Multiannual Report on Investments in Public-Private Partnerships (IMIAP) has approved around $220 million for this project. The Ministry of Transportation and Communications (MTC) has commissioned ProInversion to promote private investment in the "Third Group of Airports," which includes the modernization, rehabilitation, improvement, and operation of several airports. The MTC expects that this investment will enhance air connectivity and provide better service to approximately 3.6 million people. Additionally, the project will also involve the operation and maintenance of the Chinchero International Airport in Cusco, which is currently being constructed. [Extracted from the article]

Sindicato Energético (Sinersa) has acquired a hydroelectric asset in Peru from mining company Volcan. Sinersa purchased 100% of the shares in Empresa de Generación Eléctrica Río Baños (EGERBA) for $31.7 million. EGERBA operates the Rucuy hydroelectric plant with a capacity of 20MW in Lima. Sinersa operates several other hydroelectric power plants in Peru and is currently developing the Olmos 1 power plant. [Extracted from the article]

Topics discussed included Caribbean cat risk, protests in Peru, crisis in Argentina and the World Cup. [ABSTRACT FROM AUTHOR]

Peru's investment promotion agency, ProInversión, has partnered with the National Port Authority (APN) to explore the development of port projects in southern Peru. ProInversión will assess the need for new or upgraded port terminals, including the Corío Port Terminal in Arequipa, and will then offer these projects to the private sector. Additionally, ProInversión is currently evaluating the modernization of the Chimbote Port Terminal, valued at $215 million. In March 2024, Peru awarded the $405 million San Juan de Marcona Port Terminal public-private partnership (PPP) to Terminal Portuario Jinzhao Perú. The concession has a 30-year term and is structured as a self-financed private initiative. [Extracted from the article]

Peru is moving forward with the construction of the Luis Arias Schereiber Central Military Hospital. The project, estimated to cost $250 million, will be structured as a co-financed private initiative. The hospital is expected to be tendered in the first quarter of 2025 under a 30-year concession term. The new hospital will replace the current one and will provide both green coat and grey coat services. Temporary infrastructure will be built to ensure healthcare services are available during the construction of the new facilities. [Extracted from the article]

Peru's Ministry of Energy and Mines has approved the technical study for the $600 million Cerro Verde copper expansion project. The expansion aims to increase the mine's average production rate to 420,000 metric tonnes of ore per day by 2026 through 2044. The project is sponsored by a consortium consisting of Freeport-McMoRan, Sumitomo Corporation, Buenaventura, and other stakeholders. In 2022, the sponsors closed a $350 million revolver to refinance project finance debt, and in 2023, Chilean mining company Antofagasta acquired around 19% of Buenaventura. [Extracted from the article]

Seven bidders are competing for Section 4 of the Longitudinal de la Sierra Highway PPP in Peru, which is valued at approximately $1.2 billion. The qualified parties include Sacyr, Concesionaria Vial del Centro, OHLA, China Communications Construction Company, Consorcio Carretera de los Andes, Operadora Surperú, and Consorcio R&R. The project, which is part of Peru's 2018-20 infrastructure plan, is expected to be awarded in the third quarter of 2024. The highway spans 955km and connects multiple departments in Peru, with works involving the operation, rehabilitation, improvement, construction, and operation and maintenance of the infrastructure. The concession will be co-financed by the state. [Extracted from the article]

Enel, an Italian power company, has completed the sale of its distribution businesses in Peru to China Southern Power Grid International (CSGI). The sale, which was approved by Peru's antitrust authority and Chinese authorities, was part of Enel's strategic plan to sell assets in non-core markets. Enel had agreed to the deal in April of the previous year for $2.9 billion. This follows Enel's recent approval for the sale of its Peruvian generation assets to Niagara Energy for $1.4 billion. [Extracted from the article]

Peru has officially signed a contract with a consortium of international firms for the development of the $800 million Lot X oil field. The consortium includes Aguaytía Energy, Offshore International Group, and Termoselva. According to Peruvian law, state-owned company Petroperú will have a 40% stake in the project. The consortium plans to drill 2 exploratory wells in the first 10 years and 440 new wells in Lot X to increase oil production. This agreement comes after China National Petroleum Corporation (CNPC) withdrew from the project in November 2023. [Extracted from the article]

Peru's investment promotion agency, ProInversión, is relaunching the Chavimochic Irrigation PPP project. The project aims to irrigate 111,000 hectares of land in Peru's La Libertad region, tripling agricultural production and exports. The government of Peru has signed a $750 million agreement with Canada to construct the Palo Redondo dam and install a pipeline crossing the Virú River. The project was previously awarded to a consortium involving Novonor and Graña y Montero but was stalled due to a corruption scandal. [Extracted from the article]

Interconnection Eléctrica (ISA), a Colombian telecoms firm, has secured a $345 million equity bridge loan for two electrical transmission projects in Peru. The financing was provided by Bank of China, BBVA, Intesa Sanpaolo, Natixis, and SMBC. The projects, which have 30-year concession terms and cover about 1,044km of high voltage lines, aim to improve connectivity and benefit seven regions in Peru. ISA has formed the Consorcio Eléctrico Yapay with Dunas Energía to operate the public-private partnerships (PPPs). The long-term financing is expected to be finalized in late 2025. [Extracted from the article]

Peru's Ministry of Energy and Mines has awarded a contract to the PA-FARMIN consortium for the development of a natural gas distribution network in the Cusco region. The project includes the construction of an LNG regasification plant and 25.18km of pipelines. The government has also awarded a similar LNG project to Consorcio ACP for the Huancavelica region. Additionally, Peruvian investment promotion agency ProInversión and the Ministry of Energy and Mines have agreed to develop natural gas pipeline public-private partnerships in the regions of Arequipa, Moquegua, and Tacna. [Extracted from the article]

Zijing Mining Group's subsidiary, Jinting Mining, has acquired the La Arena II gold project in Peru from Pan American Silver for $300 million. The deal is pending approval and includes a payment of $245 million upon closing, as well as a contingent payment of $50 million. The acquisition is expected to be completed in the third quarter of 2024. The La Arena II mine is located in Peru's La Libertad province and was previously owned by Tahoe Resources. Pan American Silver plans to use the proceeds to strengthen their financial position and invest in high-quality assets. [Extracted from the article]

Peru's Huancavelica region is seeking to procure a portfolio of 13 infrastructure projects worth S/905 million ($240m). These projects include the construction of a regional airport, a food market, a sports center, and a citizen security project, among others. The region has already awarded 21 concessions with a total value of nearly $2 billion. Additionally, Huancavelica plans to award "works for taxes" projects worth S/361 million this year, where private firms advance their income tax payment to deliver a project. Peru is actively promoting the procurement of concessions, with plans to award 40 PPP projects for over $8 billion and $270 million in works for taxes in 2024. [Extracted from the article]

Peru's regions have $4.3 billion available for infrastructure projects, which will be procured through the country's "works for taxes" mechanism. This mechanism allows private firms to advance the payment of their income tax in order to deliver a project. In 2024, the government of Peru awarded 11 "works for taxes" projects with a total value of $45 million. Currently, there are 96 projects under development across 10 regions. Additionally, Peru plans to award 40 public-private partnership projects for over $8 billion and $270 million in works for taxes this year. [Extracted from the article]

MidOcean Energy, backed by EIG, has acquired a 20% stake in Peru LNG, which is operated by Hunt Oil Company and is one of two LNG production facilities in Latin America. Peru LNG's assets include an LNG export plant, a natural gas liquefaction plant, a pipeline, storage tanks, a marine terminal, and a truck loading facility. MidOcean made the purchase because it believes that Peru LNG is a strategically important asset for the Peruvian natural gas sector, supplying LNG to residential and industrial customers, as well as CNG-powered vehicles. Morgan Stanley served as the financial adviser to MidOcean. [Extracted from the article]

Peru's oil and gas contracts agency, Perupetro, has awarded the Lot X oil field to a consortium of international firms. The winning team will invest $800 million and drill 2 exploratory wells in the first 10 years of operation. The consortium includes Aguaytía Energy, Offshore International Group, and Termoselva. According to Peruvian law, state-owned oil and gas firm Petroperú will have a 40% stake in the venture. The winning consortium plans to drill 440 new wells in Lot X, potentially doubling the oil production capacity. China National Petroleum Corporation (CNPC) had previously acquired Lot X in 2014 but withdrew from the project in November 2023. [Extracted from the article]

Peru's ProInversión has prequalified five bidders for an upcoming auction to award three transmission projects. The projects, totaling $329 million in investments, will benefit over a million people in the regions of Ica and Arequipa. The winning bidders will be responsible for the design, financing, construction, operation, and maintenance of the projects. ProInversión plans to award a total of 15 transmission projects worth $941 million in investments this year. [Extracted from the article]

Peruvian investment promotion agency ProInversión has announced the three qualified bidders for the $394 million Huancayo-Huancavelica Railway public-private partnership (PPP) project. The interested parties are Consorcio Ferrocarril HH, Consorcio Concesionaria Ferroviaria del Centro, and Mota-Engil. The project is expected to be awarded in the second quarter of 2024 and will have a 30-year concession term. The Huancayo-Huancavelica Railway, which has been operational since 1926, will undergo modernization, including the upgrading of stations, stops, bridges, and tunnels. [Extracted from the article]

Peru's ministry of energy and mines (MINEM) is preparing to build 26 renewable energy projects, with a total investment of $5.6 billion. These projects will contribute 4,276MW to the national interconnected electric system. The projects include 12 hydroelectric plants, 3 wind plants, and 11 photovoltaic plants, located in various regions of Peru. One notable project is the San Gabán III hydroelectric power plant in Puno, which will have an installed power capacity of 205MW and is set to begin operations in 2026. Another project is the San Martín solar photovoltaic plant in Arequipa, with an installed power capacity of 252.4MW and an investment of $142.7 million. [Extracted from the article]

Peruvian investment promotion agency ProInversión is nearing completion of technical studies for a private initiative to modernize Chimbote Port Terminal. The project, led by Chile-based logistics company Agunsa, requires an investment of approximately $215 million. The modernization of the terminal will facilitate increased exports of fishmeal, minerals, and agro-industrial products. ProInversión plans to structure the project as a public-private partnership (PPP) and expects to publish a tender notice for the project in the coming weeks. The PPP is scheduled to be awarded in 2024. Additionally, Peru's healthcare provider, EsSalud, has signed supervision contracts for the Piura and Chimbote hospitals, which were awarded $323 million in June 2023. [Extracted from the article]

Peru's Ministry of Energy and Mines has announced a mining exploration portfolio worth $644 million. The portfolio consists of 75 projects located across 17 departments in Peru. These projects are categorized as follows: 32 projects with full permits for exploration operations worth $253 million, 27 projects under evaluation valued at $263 million, and 16 projects pending environmental approval valued at $128 million. The most prevalent metals and minerals in these projects are copper, gold, zinc, and silver. Peru is also expecting investments of approximately $6.2 billion in the mining sector between 2023-2024. [Extracted from the article]

Hochschild Mining has sold its Crespo silver project to Kina Mining Peru for $15 million. As part of the agreement, Hochschild will receive a non-refundable cash payment of $15 million and a 1.5% Royalty Net Smelter Return from the project. The Crespo mine is located in the Southern part of Peru and has a daily production capacity of 3 million ounces of silver. Hochschild's CEO stated that the sale aligns with their strategy of focusing on core assets such as their flagship Inmaculada mine and the new Royropata project in Peru, as well as the recently completed Mara Rosa mine in Brazil. Hochschild acquired two Brazilian gold projects in December 2021 for $105 million. [Extracted from the article]

The government of Peru awarded 11 infrastructure projects worth a total of S/166 million ($45m) in the first quarter of 2024 through the "works for taxes" mechanism. One of the notable projects is the expansion and modernization of the Ludwig van Beethoven secondary school, which has an investment cost of S/40 million. Other awarded projects include the expansion of schools at the National University of San Agustín and the modernization and expansion of a road connecting districts in the province of Chincha. Under the works for taxes modality, private firms pay their income tax in advance to deliver a project. Peru is also planning to award 40 PPP projects for over $8 billion and $270 million in works for taxes this year. [Extracted from the article]

Peru has awarded the Anillo Vial Periférico (AVP) ring road public-private partnership (PPP) to a consortium consisting of Acciona, Cintra, and Sacyr. The PPP is estimated to cost $3.4 billion and will have a 30-year concession term. The consortium will be responsible for the design, financing, construction, operation, and maintenance of a 34.8km highway in the Lima Metro Region and Callao. The project aims to alleviate congestion in Lima, reducing travel times and operation costs for vehicles. The ownership stakes in the project are divided among Cintra (35%), Acciona (32.5%), and Sacyr (32.5%). The PPP was approved by ProInversión in January 2024 and has been in development since 2017. [Extracted from the article]

Spanish developer Grenergy has completed the sale of two wind projects in Peru to Engie Energía Perú for $60.3 million. The projects have a total capacity of 77MW and are located in Cajamarca. The sale could potentially increase by $3.2 million if certain operational milestones are achieved. Grenergy is also selling its 97MW Matarani solar project in Arequipa to Yinson Renewables for $90 million, which includes a turnkey contract for construction. Grenergy still retains a solar portfolio of over 700MW in various stages of development in Peru. [Extracted from the article]

Peruvian investment promotion agency ProInversión has selected three bidding teams to present economic and technical offers for the Puerto Maldonado wastewater treatment plant public-private partnership (PPP). The qualified consortia are Tecnología Intercontinental SAPI de CV, Saneamiento Puerto Maldonado (BTD Capital and Calare Investments), and Copasa-Almar (Copasa and Almar Water Solutions). The project has an investment cost of S/365 million ($98 million) and a 23-year concession term. The Ministry of Housing, Construction, and Sanitation will co-finance the project and act as a guarantor. The treatment plant is located in Peru's Madre de Dios region and is expected to be awarded in the second quarter of 2024. [Extracted from the article]

Altamesa Energy, a Canada-based company, has secured a $26 million LC facility to become the majority partner and operator of the Lot 192 oil bloc in the Peruvian jungle. The company obtained the LC from an international lender as a requirement to secure a 61% stake in the License Agreement for Block 192. Lot 192 is one of Peru's largest onshore concessions and will begin production in November 2024 with an initial capacity of 500 to 800 barrels per day. The ownership structure of the bloc is Altamesa Energy with 61% and Petroperú with 39%. Altamesa Energy has enlisted the help of BofA Securities, GSA legal, and Norton Rose Fulbright as advisers, while the lender has enlisted the help of Garrigues, Allen & Overy, Torys, and Lavery as advisers. [Extracted from the article]

Peru has awarded the San Juan de Marcona Port Terminal PPP to Terminal Portuario Jinzhao Perú. The concession is a self-financed private initiative with a 30-year term. The concessionaire will be responsible for the construction, operation, maintenance, and management of a new port terminal in San Juan de Marcona, with a focus on minerals and inputs for mining. Additionally, ProInversión has approved a pre-investment study for the Trujillo and Chepén wastewater treatment plant PPP. [Extracted from the article]

Sierra Metals, a Canadian mining company, has announced plans to invest up to $49 million in its mining projects in Mexico and Peru in 2024. The company will allocate between $24.8 million and $31.1 million to its Bolivar copper-silver-gold concession in Mexico's Chihuahua state. Additionally, Sierra Metals intends to invest between $14.4 million and $17.9 million in its Yauricocha mine in Peru, which recently obtained environmental permits. The Yauricocha mine covers approximately 50,000 hectares and contains various deposits of silver, zinc, copper, lead, and gold. Sierra Metals has a long-term investment plan of nearly $1 billion for the mine over the next decade. [Extracted from the article]

The International Finance Corporation (IFC) and the Japan International Cooperation Agency (JICA) have provided BBVA Peru with a $250 million debt package to fund sustainable construction and energy projects in Peru. The financing is split between JICA ($150 million) and IFC ($100 million). BBVA Peru will use the funds to strengthen its loan portfolio for sustainable construction and energy efficiency projects. This investment aligns with BBVA Peru's strategy to support a greener and more sustainable world. Additionally, the Peruvian investment promotion agency, ProInversión, has announced the prequalified bidders for the $340 million Huancayo-Huancavelica Railway PPP project. [Extracted from the article]

The government of Peru has approved Compañía de Minas Buenaventura's Yumpag silver mining project, with an investment of $114 million. The company has already invested $84 million for short-term operations and plans to invest an additional $30 million in Phase 2. The permit allows for the extraction of 1,000 tonnes of silver per day, aligning with the company's production forecast of 6.5-7.2 million ounces of silver in 2024. Peru's Ministry of Energy and Mines has also approved the $2 billion expansion of the Antamina mine, and the country expects investments of around $6.2 billion in the mining sector between 2023-2024. [Extracted from the article]

Peruvian investment promotion agency ProInversión has prequalified three teams for the $340 million Huancayo-Huancavelica Railway PPP. The interested parties include two international consortia and a European company. The next step in the procurement process is for the qualified teams to present technical and economic offers for the 30-year PPP. ProInversión plans to award the project in Q2 2024. The railway stretches across the Junín and Huancavelica regions and has been operational since 1926. It consists of 7 stations, 20 stops, 15 bridges, and 38 tunnels, all of which will be modernized. [Extracted from the article]

Spanish developer Solarpack has secured a $176.6 million senior financing package for its San Martín solar plant in Peru. The financing includes lenders such as Crédit Agricole, Natixis, BBVA, and BNP Paribas. Solarpack has also closed a revolving credit facility of up to $19 million with BBVA to fund working capital requirements during the project's construction. The San Martín solar plant, located in the Arequipa province, will have a capacity of 300MW and is expected to generate over 819GWh per year. Solarpack currently owns 343MW of renewable energy projects in Peru and recently appointed José Luis García Pérez as chief executive for Latin America. [Extracted from the article]

Peru's Ministry of Transportation and Communication (MTC) has enlisted the help of national investment promotion agency ProInversión to structure 22 public-private partnership (PPP) projects, including 18 roads and 2 ports. These projects have a total value of over $3.5 billion. The road projects include various corridors and routes, while the port projects involve the development of new terminals. This initiative is part of the MTC's Public-Private Investment Plan for 2024-2026. ProInversión aims to efficiently and urgently structure and award these projects in collaboration with the MTC and other stakeholders. Additionally, ProInversión recently approved a pre-investment study for a wastewater treatment plant PPP project in Trujillo and Chepén, valued at $312 million. [Extracted from the article]

Topics discussed included Caribbean cat risk, protests in Peru, crisis in Argentina and the World Cup. [ABSTRACT FROM AUTHOR]

Peru's Ministry of Mines and Energy has announced its plan to develop green hydrogen projects. The country will pilot four projects with a total capacity of 1GW in Callao, Piura, Matarani, and Ica. Additionally, Peru is considering pilot projects for the use of green hydrogen in public transportation. The government aims to establish regulatory instruments and technical standards for project development by 2028. In other news, the Ministry recently granted environmental permits for 15 mining exploration projects valued at $92.7 million, and approved a $2 billion expansion of the Antamina mine, the country's largest copper-zinc mine. Peru expects investments of approximately $6.2 billion in the mining sector between 2023-2024. [Extracted from the article]

Peru's investment promotion agency, ProInversión, has announced a tender for three transmission projects worth a total of $100.8 million. The projects include the construction of a transmission line, substations, and associated extensions, the modernization of an electrical system, and the expansion of another electrical system. The projects are expected to benefit nearly 700,000 people in various regions of Peru. ProInversión is also currently tendering four additional transmission projects valued at $137 million. Spanish construction group Grupo ACS has recently secured financing for three transmission lines in Peru. [Extracted from the article]

Peru has made changes to its Regional Compensation Fund (Foncor), allowing regional governments to use its resources for infrastructure projects through the "works for taxes" modality. This change will provide regional authorities with approximately $1.43 billion to develop projects in collaboration with the private sector. Peru currently has 84 projects valued at $2.74 billion under the works for taxes mechanism. Additionally, Peru plans to award $270 million in works for taxes projects, including 12 projects in the defense sector. Furthermore, Peru aims to award 40 public-private partnership (PPP) projects worth over $8 billion in 2024. [Extracted from the article]