Brazil-Peru: The Gateway to Asia
Sep 1, 2010
Brazil is building infrastructure throughout neighboring Peru with a view to opening up shipping routes to Asia. The substantial investment also boosts Peru’s long-term development.
by Lucien Chauvin
Highways are the most visible sign of Brazil’s growing presence in Peru. But they represent just a small fraction of what government authorities and experts hope will be full economic integration between the two countries. Latin America’s biggest economy is also looking to Peru to help channel some of its rapidly growing trade with Asia.
The most ambitious project is a two-pronged paved highway connecting Brazil’s Santos Ports to ports in southern Peru. Known locally as the "inter-oceanic highway," it will require close to $1.8 billion by the time it is completed in mid-2011.
Brazil’s Odebrecht, Andrade Gutierrez, Camargo Correa and Queiroz Galvão are the main contractors, and financial support is coming from Peru’s central government, as well as the regional government where the highway is being built. Brazil’s BNDES will help finance a huge chunk of the projects with...
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