Huancavelica to become first trout exporting center with 7,000 tons a year

The department of Huancavelica, located in the center of the country, will become the first Peruvian trout exporting center, with an expected production of 7,000 tons of this fish a year, reported today Sierra Exportadora president, Gastón Benza Pflucker.

Benza Pflucker recalled that the mining group Rodríguez Mariátegui and the company Topy Top, both of Peruvian capitals, will invest a total of 11 million dollars for the installation of two industrial centers of trout breeding in Choclococha's lagoon in Huancavelica.

The project will generate 250 new jobs and each industrial plant will produce 3,000 tons of trout annually.

Nowadays Peru exports 1,500 tons, which turn both plants into the major center of industrial centre of trout breeding of the country.

Rodríguez Mariátegui group created the Peruvian Aquaculture Company, Benza Pflucker commented in the framework of the workshop: "Strategies to Develop Trout industry in Huancavelica's Highland".

Publication: Andina - English Newswire
Provider: Andina
Date: July 23, 2008


Energía Renovable picks up Marcona I, La Pampa wind concessions

Peru's energy and mines ministry has granted Perú Energía Renovable two temporary concessions for wind power generation projects totaling 200MW.

The projects are Marcona I (100MW) and La Pampa (100MW), the country's official gazette reported.

Energía Renovable submitted the temporary concession requests for Marcona and La Pampa in May and June respectively. The company has two years to carry out feasibility studies.

Marcona I studies will be carried out in the Marcona and Lomas districts of Nazca and Caraveli provinces in Ica and Arequipa departments. La Pampla studies will be carried out in San Pedro de Lloc and Rázuri districts of Ascope and Pacasmayo provinces in La Libertad department.

Earlier this year, the ministry awarded Perú Energía Renovable temporary concessions for wind projects Talara (300MW), Ilo 1 (200MW) and Ascope (100MW).

Publication: Business News Americas - English News
Provider: Business News Americas
Date: July 22, 2008


IFG to build frozen-fish plant

In the first week of August 2008, Investment Fishing Group (IFG) will begin to construct its first frozen-fish plant on a site measuring 20,000 square metres in southern Pisco, Peru. The plant will cost US$14mil but will boast a processing capacity of 100 m tons per day and storage space of 4,000 m tons of mackerel. IFG will later look to double storage space and quadruple processing capacity, says general director Santiago Freundt. The firm will be adding to its fleet.

Publication: SABI - Business News
Provider: South American Business Information
Date: July 18, 2008


Peru To Get 15,000 LPG Stations Until 2009

Peru will get 15,000 stations, that will offer liquefied petroleum gas (LPG) until 2009, Peruvian regulatory body for investment in the energy and mining sector Osinergmin said on July 16, 2008.

The body noted that the 15,000 stations are in fact existing informal stations for sale of LPG. These stations are obliged, in accordance with the law, to register their operations and to start selling the fuel legally until 2009.

Furthermore, Osinergmin issues between 300 and 500 licences per month for the sale of LPG nationwide.

Osinergmin's official, Jose Diaz, explained that the illegal trade of liquid fuels as petrol, kerosene and diesel oil fell to 3.0 pct now from 100 pct four years ago. However, 50 pct of the LPG sold in Peru now is illegally traded, Diaz added.

As regards to the natural gas, Osinergmin did not detect any illegal trade due to the modern infrastructure and the higher control.

Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: July 17, 2008

Tradisa: Peru's largest steel service center to lift storage capacity

Peru's largest steel distributor and service center Tradisa will increase its storage and processing capacity in order to meet growing domestic demand. A source within the company tells Steel Business Briefing consumption has grown about 12% during the last few months and is expected to grow further.

Tradisa, which operates four plants in Peru, has around 30,000 tonnes of storage capacity. The group handles both longs and flats and has a sales agreement with local steelmaker Aceros Arequipa to supply longs. The group currently imports flat steel.

"We are installing new equipment to increase our processing capacity, as well," the source says, though he says the company does not intend to open any new sites. The first new lines should be commissioned in a couple of month, he adds.

Publication: SBB - Steel Business Briefing
Provider: Steel Business Briefing
Date: July 17, 2008

Romero Group to invest up to US$ 45 million in biodiesel products in Loreto

The company Palma del Espino, which belongs to Romero Group, might invest up to 45 million dollars in a project for oil palm cultivation in Loreto and a plant for oil extraction to produce biodiesel, reported today the general manager of Palma del Espino, Ronald Campbell

The project consists of 10,000 hectares of oil palm cultivation in the region. It will be invested 3,000 and 3,500 dollars per hectare that fulfills all the technical requirements, he said to the Andina news agency.

"If we plan to install 10,000 hectares, we are talking about 30 millions to 35 million dollars of investment for the agricultural industry, and it must be accompanied of an extraction plant to get the oil (for the biodiesel) from the palm and this can mean up to ten million dollars of investment ", he said.

Publication: Andina - English Newswire
Provider: Andina
Date: July 16, 2008

América Móvil likely to invest $200 million to enlarge infrastructure in Peru

The general manager of América Móvil (Peru), Humberto Chávez, reported today that the company aims to invest approximately 200 million dollars in enlarging telecom's infrastructure in Peru this year.

"This investment is based on the fact that our company is strongly betting for the development of telecommunications in Peru, especially the wireless one", he affirmed.

Chávez specified that after eight years in Peru, the Mexican company has an accumulated investment of around one billion dollars.

Up to now, Claro (the commercial name of América Móvil which offers its mobile services) has around six and a half million users and thsi number is expected to increase with the wireless landline phone services.

Chávez mentioned that the potential of the Peruvian market in this area is important since the penetration level of the wireless landline phone services is very low reaching only ten percent.

Publication: Andina - English Newswire
Provider: Andina
Date: July 16, 2008


Peru ranks sixth in manufacturing investment ranking, says Pricewaterhouse Coopers (PwC)

Peru figures as the sixth country with the higher index of interests for manufacturing investment among the emerging markets, according to Pricewaterhouse Coopers (PwC), that gathers the top 20 emerging countries of the world regarding manufacturing investment, reported today the company.

"Peru and its successful location inside the Index PwC EM 20 is due to Peru's low labour costs and its reasonable proximity to United States, country with which Peru has signed a Free Trade Agreement (FTA) and one of its main markets of exportation", Sergio Koremblit, partner of PwC Advisory stated .

In addition, he said that among other reasons are the good conectivity with the principal markets of the European Union, its vigorous rate of growth and its low level of risk that the country represents.

Publication: Andina - English Newswire
Provider: Andina
Date: July 11, 2008


Geneva Resources, Inc. Receives Final Geophysics Report on Vilcoro Gold Property, Peru

Marcus Johnson, President of Geneva Resources Inc. ("Geneva"), and Lori McClenahan, President of St. Elias Mines Ltd. ("St. Elias" or the "Company"), announce that the final geophysical report on the Vilcoro Gold Property in Peru has been received from Fugro Ground Geophysics. The Company has an option to earn a 66% interest in the Vilcoro Property from St. Elias Mines Ltd.

The geophysical survey comprised 13.9 km on 17 lines with IP-Resistivity readings at 25-meter intervals and Magnetic readings at 10-meter intervals. The geophysical interpretation shows that the "MAIN TREND" of gold mineralization is cored by a distinct chargeability (IP) anomaly that begins approximately 100 meters below surface. Such anomalies are commonly caused by disseminated sulphides associated with epithermal gold mineralization. This chargeability anomaly, which is about 400 meters long and 200 meters wide, corresponds to that part of the "MAIN TREND" where highest gold grades were obtained from surface sampling, and is considered a top-priority drill target.

The Company has secured the services of a professional organization to immediately begin an Environment Impact Study required by the Government of Peru to obtain a drilling certificate. Representatives of the Company are currently in the field negotiating with the owners of surface rights for permission to build drill roads and platforms.

Publication: PR Newswire
Provider: PR Newswire
Date: July 9, 2008


Sensoria opens shop in Santa Anita

Sensoria is a firm dedicated to flavours, fragrances and ingredients in Peru. Part of Grupo Fierro, Sensoria has a 20% market share and posts an annual turnover of US$18mil. It expects 20% growth next year. The company specialises in sweet flavours. It recently opened a shop in Santa Anita, where it sells its products in small formats to small-scale business and would-be small-scale business. The store should post monthly sales of US$10,000 and a second could well open up in Lima Norte.

Publication: SABI - Business News
Provider: South American Business Information
Date: July 7, 2008


Electronorte invests $233 thousand in public lighting in Chiclayo

Empresa Electrica del Norte (Electronorte) will invest around 223 thousand dollars to improve the lighting system of the principal entrances in Chiclayo, mainly in the routes which goes to Lambayeque and Ferreñafe towards the Asia-Pacific Economic Cooperation Forum (APEC).

Electronorte regional manager, Alberto Chancafe Guerrero, pointed out that these works during its first stage consisted of the installation of new concrete poles with lights and wiring in the entrance of Lambayeque and Ferreñafe cities"

"Lambayeque seeks to improve its presentation towards Asia-Pacific Economic Cooperation Forum (APEC), which will take place next August in this northern department", Chancafe said.

In addition, the representative stated that besides this works, there are lighting works carried out by part of the local municipalities as well as by the regional government of Lambayeque.

Publication: Andina - English Newswire
Provider: Andina
Date: July 6, 2008


Around $88 million invested in Peruvian rainforest' s productive works

Peru's president, Alan García, said today that around 88 million dollars are invested in a diversity of productive works in the central rainforest benefiting population of this zone.

From the province of Chanchamayo (Junín) where the President inaugurated works of enlargement and rehabilitation of the bridge Raither that connects Lima with the district of La Merced, he indicated that such budget is invested in drinking water works for six towns, in highways, and in the above-mentioned bridge.

The president said that 2.30 million tons of production travel on this bridge, "which is considerable, but now more tons will be able to transit, five or ten more times according to we have rural electrification and infrastructure".

"This is the reason why I ask Peruvians for thinking in Peru and children's tomorrow, this bridge can be a sign of our alliance and the seal of our union for the Peru's future", he expressed.

He also said that boosting the country's infrastructure is work and essential goal of the government. "because without roads, bridges or electrification, there is not production and it is what insures long-term employment and the income of producers".

Publication: Andina - English Newswire
Provider: Andina
Date: July 6, 2008