PROINVERSIÓN PROMOTES PERIPHERAL RING ROAD TO POTENTIAL INVESTORS IN EUROPE
Madrid, February 13, 2024.- Peru through the Private Investment Promotion Agency (PROINVERSIÓN) continues with its active promotion policy abroad to promote the 2024-2025 investment portfolio. The technical team, integrated by the project director, Luis Enrique Gonzales, and the financial coordinator of the Special Projects Division, Martin Rojas Capurro, arrived in the city of Madrid to present to potential European investors the technical, legal and financial characteristics of the Peripheral Ring Road project; as well as the investment opportunities of the portfolio of PPP Transport projects promoted by the agency.
The promotional activities carried out in the Iberian country are aimed at strengthening Peru's position as an attractive investment place, informing on the Peruvian regulatory framework for PPPs and Projects in Assets, as well as promoting competition in the processes of promoting private investment.
As part of the busy work agenda, the PROINVERSIÓN delegation held technical meetings with executives and representatives of the most important Spanish construction companies, such as OHLA, Aldesa, Rover Group, Iridium, Grupo Ortiz and Santander Bank.
During these technical meetings, information was provided on the current status of the project, contractual aspects, assets and property risk regimes, suspension of obligations, and payment and co-financing mechanisms. In addition, details were provided on economic and financial equilibrium, supervision of works, operation and maintenance, guarantees, insurance, financial closing, dispute resolution, among others.
Subsequently, PROINVERSIÓN's specialists carried out activities to exchange experiences with local authorities to learn more about the technology implemented in the city's road infrastructure and the service levels of the high-speed highways in the Spanish capital.
ABOUT THE PROJECT
The Peripheral Ring Road, which requires an estimated investment of US$ 3,4 billion, includes the design, financing, construction, operation and maintenance of a 34.8 km long highway, as well as the cost of property acquisition, among other project expenses.
Its construction, which will benefit 4.3 million inhabitants of Lima and Callao, will consolidate the city's transport axes, allowing for more fluid circulation by reducing the average travel time by 50%.
This facilitates the reduction of operating costs of heavy and light vehicles, as well as foreign trade logistics costs for agricultural and mining products, among others.
The project will not only increase connectivity and productivity in Lima and Callao but will also improve the quality of life of the thousands of passengers who daily face Lima's chaotic vehicular traffic, which affects the most vulnerable, allowing many families to reach their destinations on time and have greater access to institutions located within their area of influence (health centers, educational institutions, shopping and recreation centers, among others), by complementing other roads in the city.
Its execution will generate 70 thousand jobs (direct and indirect) in the construction phase and 20 thousand more jobs per year (direct and indirect) in the operation phase. In addition, it will benefit more than 1,800 families with informal housing through sustainable housing programs.
Source: Press Release – PROINVERSIÓN