Peru’s $844 Million Corio Port Draws Interest from India, US and China
Investors from India, the United States and China have shown interest in the proposed Corio port in southern Peru, a three-stage terminal and logistics complex estimated to cost US$844.48 million. The project could give South America another deep-water gateway for trade with Asia.
Arequipa regional governor Rohel Sanchez made the remarks in Lima on 12 October, after the regional government signed a collaboration agreement with ProInversion, Peru’s state investment promotion agency, to promote the project to domestic and foreign investors.
“We have investors from the US, China and India who are very interested,” Sanchez told reporters, according to Reuters. He did not name any companies or say what they had proposed. He added that firms from Turkey and the Netherlands have also shown interest, and that South Korean investors are looking at technology projects in the planned logistics park.
Corio port project: what is planned
According to ProInversion details reported by Peruvian business daily Gestion, the first stage of the Corio port terminal will cost about US$651.98 million. A second stage of about US$109.25 million covers bulk cargo handling, storage and a rail link, and a third stage of about US$83.25 million adds a third specialised berth and more equipment.
The port will be backed by a logistics city of more than 34,000 hectares, with distribution centres, warehousing, industrial parks and processing units. Sanchez said 34,596 hectares of land have been registered for the zones. Peru’s National Port Authority (APN) approved the master plan for the terminal in September 2026, state news agency Andina reported.
Corio, in Islay province, is being pitched as a southern trade hub connected to Brazil, Bolivia and Asia-Pacific markets.
Deeper draft than Chancay
Officials expect Corio to have a greater draft depth than Chancay, the port north of Lima that China’s Cosco Shipping Ports has operated since late 2024. Chancay handles large vessels on direct voyages between South America and Asia, and a deeper draft at Corio would let it take bigger ships.
Corio could handle general cargo and containers. ProInversion president Luis del Carpio did not rule out using it to ship minerals such as copper from the region to Asia. Peru is one of the world’s largest copper producers, and Asia is its main market for minerals.
Early stage, amid US-China rivalry
The interest comes as Washington tries to limit Beijing’s growing influence in Latin America, where China has become a major investor in Peru. In September, the Peruvian government announced that China’s Jinzhao would start building a US$405 million port at Marcona, in the Ica region, in 2027.
Corio is still at an early stage. Local daily El Pueblo reported that the APN has asked ProInversion to consider starting the formal private investment promotion process. The project does not yet have financing, a concessionaire or a tender, and the 12 October event was the project’s third investor roadshow.
For Indian port operators and shippers, Corio is one of a small number of new West Coast gateways in South America. But no Indian company has publicly confirmed it is interested.
