Chinese Lenders Raise Concerns About $1.3 Billion Peru Port Deal

(Bloomberg) — Chinese lenders are concerned about future investments at a $1.3 billion port in Peru which is due to be inaugurated this year, executives told a congressional committee.

Peru’s government is trying to revoke a deal that granted Chinese state-owned company Cosco Shipping Co. Ltd. exclusive rights to run the new Chancay Port. While most major Peruvian ports have a single operator, the government argues it does not have the legal authority to grant the new facility the same status.