China's Xi inaugurates ‘megaport’ in a Latin American nation
Chinese President Xi Jinping and Peruvian President Dina Boluarte have officially opened a substantial deep-water port in Peru. Read Full Article at RT.com
TroibNews 
The deep-water port in Peru, funded by Beijing, is poised to serve as a critical maritime travel hub connecting South America and Asia.
On Thursday, Chinese President Xi Jinping and Peruvian President Dina Boluarte officially inaugurated the expansive Chancay Port. This facility is anticipated to generate “considerable” income while establishing itself as a primary maritime link between the two continents.
The two leaders participated in the inauguration via video link from the presidential palace in Lima, witnessing a livestream presentation of the ribbon-cutting ceremony during which port authorities announced its operational status.
Located approximately 60 kilometers south of Lima in Chancay, the 15-berth deep-water port was constructed by China’s Cosco Shipping Ports with an investment of $1.3 billion from Beijing. Xi described the project as a successful initiation of a “21st century maritime Silk Road,” hearkening back to the ancient trade route that connected China with the West.
“This is not only an important project under Belt and Road cooperation, but also the first smart port in South America,” Xi stated, referencing Beijing’s ambitious initiative to develop infrastructure overseas, which has been signed by 22 countries across South America and the Caribbean.
He also emphasized the significance of the project in enhancing Peru’s infrastructure: “It will enable Peru to put in place a multi-dimensional, diverse and efficient network of connectivity spanning from coast to inland, from Peru to Latin America and further on to the Caribbean.” Xi projected that the Chancay project would yield $4.5 billion in annual revenue, create more than 8,000 direct jobs, and cut logistics costs of the Peru-China route by 20%, while reducing shipping time from Peru to China to just 23 days.
Dina Boluarte commented that the port's opening marked “a historic moment of pride for all Peruvians.” She articulated that the facility is a pivotal milestone in achieving Peru’s aspiration of establishing an international transshipment hub for South America, which is intended to serve as a gateway linking Latin America and Asia, thereby increasing trade across the Pacific.
Mario Ocharan, the Peruvian director of the Chancay Chamber of Commerce, noted that the first vessel is scheduled to depart for China next week, carrying Peruvian fruit.
China's participation in the port project has raised alarms in the US. Outgoing US Southern Command chief General Laura Richardson recently cautioned that the deep-water port might serve as a base for the Chinese Navy to deploy warships and conduct intelligence operations.
“It could be used as a dual-use facility. [The navy] could use it… this is a playbook that we’ve seen play out in other places, not just in Latin America,” she remarked to the Financial Times, indicating that many in the US are wary of China's involvement in infrastructure projects situated around key strategic locations or major international shipping routes.
Jessica Kline contributed to this report for TROIB News
On Thursday, Chinese President Xi Jinping and Peruvian President Dina Boluarte officially inaugurated the expansive Chancay Port. This facility is anticipated to generate “considerable” income while establishing itself as a primary maritime link between the two continents.
The two leaders participated in the inauguration via video link from the presidential palace in Lima, witnessing a livestream presentation of the ribbon-cutting ceremony during which port authorities announced its operational status.
Located approximately 60 kilometers south of Lima in Chancay, the 15-berth deep-water port was constructed by China’s Cosco Shipping Ports with an investment of $1.3 billion from Beijing. Xi described the project as a successful initiation of a “21st century maritime Silk Road,” hearkening back to the ancient trade route that connected China with the West.
“This is not only an important project under Belt and Road cooperation, but also the first smart port in South America,” Xi stated, referencing Beijing’s ambitious initiative to develop infrastructure overseas, which has been signed by 22 countries across South America and the Caribbean.
He also emphasized the significance of the project in enhancing Peru’s infrastructure: “It will enable Peru to put in place a multi-dimensional, diverse and efficient network of connectivity spanning from coast to inland, from Peru to Latin America and further on to the Caribbean.” Xi projected that the Chancay project would yield $4.5 billion in annual revenue, create more than 8,000 direct jobs, and cut logistics costs of the Peru-China route by 20%, while reducing shipping time from Peru to China to just 23 days.
Dina Boluarte commented that the port's opening marked “a historic moment of pride for all Peruvians.” She articulated that the facility is a pivotal milestone in achieving Peru’s aspiration of establishing an international transshipment hub for South America, which is intended to serve as a gateway linking Latin America and Asia, thereby increasing trade across the Pacific.
Mario Ocharan, the Peruvian director of the Chancay Chamber of Commerce, noted that the first vessel is scheduled to depart for China next week, carrying Peruvian fruit.
China's participation in the port project has raised alarms in the US. Outgoing US Southern Command chief General Laura Richardson recently cautioned that the deep-water port might serve as a base for the Chinese Navy to deploy warships and conduct intelligence operations.
“It could be used as a dual-use facility. [The navy] could use it… this is a playbook that we’ve seen play out in other places, not just in Latin America,” she remarked to the Financial Times, indicating that many in the US are wary of China's involvement in infrastructure projects situated around key strategic locations or major international shipping routes.
Jessica Kline contributed to this report for TROIB News
