Peruvian cement producer Cementos Pacasmayo will use the limestone and diatomite deposits in Bayovar in the northwestern region of Piura to produce Portland-type cement and lime for export to the Pacific countries, Pacasmayo said on August 29, 2007.
Pacasmayo will produce both white and gray Portland cements. Pacasmayo was awarded the project by Peruvian state investment promotion agency ProInversion.
Pacasmayo will carry out some exploration work at the deposits over the next 18 months, Pacasmayo's CEO, Lino Abram, said.
The company's cement manufacturing plant in Pacasmayo in the western region of La Libertad is being supplied with limestone from the deposit Tembladera, located in La Libertad. The company owns other limestone deposits in Bayovar, but the deposits awarded now are with higher purity, which allows the production of white Portland cement and lime.
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: August 31, 2007
8/31/07
Peru Egasa To Build $337 Mln HPP in Arequipa
Peruvian utility Empresa de Generacion Electrica de Arequipa SA (Egasa) was granted a temporary concession to build a $337 mln (246.7 mln euro) hydroelectric power plant (HPP) in southern Arequipa region, the Energy and Mining Minister, Juan Valdivia, said on August 30, 2007.
The 310 MW Molloco plant will be located on the Colca river in the province of Caylloma. It would reportedly be the largest electricity generator in Arequipa.
The minister spoke at the launch of a dam construction in Caylloma. The Chalhuanca dam will be built by Egasa and is estimated at nearly 3.583 mln Peruvian soles ($1.1 mln/829,000 euro). It is expected to increase by 10 pct the power generating capacity of the region.
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: August 31, 2007
The 310 MW Molloco plant will be located on the Colca river in the province of Caylloma. It would reportedly be the largest electricity generator in Arequipa.
The minister spoke at the launch of a dam construction in Caylloma. The Chalhuanca dam will be built by Egasa and is estimated at nearly 3.583 mln Peruvian soles ($1.1 mln/829,000 euro). It is expected to increase by 10 pct the power generating capacity of the region.
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: August 31, 2007
Peruvian Ajegroup Posts $60 Mln Investment Since Start-2007
Peruvian soft drinks maker Ajegroup posted a total investment of $60 mln (44 mln euro) in its 22 production plants throughout the world since the beginning of 2007, the company’s corporate affairs and communications director, Alfredo Paredes, said on August 30, 2007.
The investment planned by the company for full-year 2007 stands at $76 mln (51 mln euro).
Ajegroup is present in Mexico, Peru, Venezuela, Ecuador, Central America, Thailand and Colombia. Ajegroup entered Colombia a month ago with the product Big Cola.
At the end of August 2007 the company will introduce on the Mexican market a line of citrus juices with vitamins under the brand Big Citrus Punch. In this market segment the company has no competitors in Mexico and thus it will gain a 100-pct market share from scratch. In Peru this line of citrus juices is being sold under the brand Cifrut Citrus Punch for seven months.
Ajegroup's Mexican unit, Ajemex, has four soft drinks manufacturing plants in the country. Ajemex has an 8.0 pct market share on the Mexican soft drinks market. Mexico is the world's biggest consumer of soft drinks per capita and the second largest in beverage production.
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: August 31, 2007
The investment planned by the company for full-year 2007 stands at $76 mln (51 mln euro).
Ajegroup is present in Mexico, Peru, Venezuela, Ecuador, Central America, Thailand and Colombia. Ajegroup entered Colombia a month ago with the product Big Cola.
At the end of August 2007 the company will introduce on the Mexican market a line of citrus juices with vitamins under the brand Big Citrus Punch. In this market segment the company has no competitors in Mexico and thus it will gain a 100-pct market share from scratch. In Peru this line of citrus juices is being sold under the brand Cifrut Citrus Punch for seven months.
Ajegroup's Mexican unit, Ajemex, has four soft drinks manufacturing plants in the country. Ajemex has an 8.0 pct market share on the Mexican soft drinks market. Mexico is the world's biggest consumer of soft drinks per capita and the second largest in beverage production.
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: August 31, 2007
Peru Topy Top Opens Store in Venezuela
Peru's leading clothing exporter Topy+TopTopy Top SA launched the first out of a total four stores planed to be opened in Venezuela by the end of 2007, Peruvian news agency Andina reported on August 30, 2007.
The store occupies 1,500 sq m in the Orinokia commercial centre in the town of Puerto Ordaz, Bolivar state. The other three Topy+Top shops will be located in Maturin, Monagas state, Barquisimeto, Lara state, and in the capital Caracas.
In Venezuela the company will sell the Xiomi clothing line for youths, the New York line for females and males, the sports line Maui & Sons, the urban Hawk and Knext and the casual Topy Top line.
Topy+Top's exports rose by 23.86 pct year-on-year in January to July 2007. The company presently exports 70 pct of its production, addressing 95 pct to the American market, according to corporate data.
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: August 31, 2007
The store occupies 1,500 sq m in the Orinokia commercial centre in the town of Puerto Ordaz, Bolivar state. The other three Topy+Top shops will be located in Maturin, Monagas state, Barquisimeto, Lara state, and in the capital Caracas.
In Venezuela the company will sell the Xiomi clothing line for youths, the New York line for females and males, the sports line Maui & Sons, the urban Hawk and Knext and the casual Topy Top line.
Topy+Top's exports rose by 23.86 pct year-on-year in January to July 2007. The company presently exports 70 pct of its production, addressing 95 pct to the American market, according to corporate data.
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: August 31, 2007
8/28/07
Peru, Colombia Start 2nd Round of FTA Talks with EFTA Nations
Peru and Colombia have started the second round of talks for the signing of a free trade agreement (FTA) with the member countries of the European Free Trade Association (EFTA), the news portal Invertia said on August 27, 2007.
EFTA includes Iceland, Liechtenstein, Norway and Switzerland.
The second round of FTA talks takes place in Lima. The two sides are expected to discuss issues such as market access, sanitary and phytosanitary measures, technical obstacles to trade, origin rules and customs procedures, among others.
According to Peru's Deputy Minister of Foreign Trade, Luis Alonso Garcia, the most problematic issue in the talks with EFTA is expected to be the trade with agriculture products.
The second round will last until August 31. The first round was held in Bogota in June, while the third and final round is scheduled for October in Geneva.
Despite the common talks, Peru and Colombia will sign separate FTAs with EFTA once the talks are completed.
EFTA was created in 1960.
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: August 28, 2007
EFTA includes Iceland, Liechtenstein, Norway and Switzerland.
The second round of FTA talks takes place in Lima. The two sides are expected to discuss issues such as market access, sanitary and phytosanitary measures, technical obstacles to trade, origin rules and customs procedures, among others.
According to Peru's Deputy Minister of Foreign Trade, Luis Alonso Garcia, the most problematic issue in the talks with EFTA is expected to be the trade with agriculture products.
The second round will last until August 31. The first round was held in Bogota in June, while the third and final round is scheduled for October in Geneva.
Despite the common talks, Peru and Colombia will sign separate FTAs with EFTA once the talks are completed.
EFTA was created in 1960.
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: August 28, 2007
Peru's Domestic Passenger Traffic Jumps 27 Pct Y/Y Jan-July 2007
The domestic passenger traffic of Peru jumped 27 pct year-on-year to 2,007,661 passengers between January and July 2007, compared to the same period a year ago, the local civil aviation authority DGAC said on August 27, 2007.
In July 2007 the domestic passenger traffic totalled 338,435 persons, compared to 285,226 in June 2007.
LAN Peru, a subsidiary of Chilean air carrier LAN Airlines SA, transported 1,221,600 passengers between January and July 2007, followed by Aerocondor, with 357,957.
(Editor’s note: LAN Peru expects its national passenger traffic to reach 2.2 million in 2007, compared to 1.8 million passengers in 2006, the Latin America News Digest said.)
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: August 28, 2007
In July 2007 the domestic passenger traffic totalled 338,435 persons, compared to 285,226 in June 2007.
LAN Peru, a subsidiary of Chilean air carrier LAN Airlines SA, transported 1,221,600 passengers between January and July 2007, followed by Aerocondor, with 357,957.
(Editor’s note: LAN Peru expects its national passenger traffic to reach 2.2 million in 2007, compared to 1.8 million passengers in 2006, the Latin America News Digest said.)
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: August 28, 2007
Peru Fishing Exports At $1.072 Bln H1 2007
Peru fishing exports rose by 17.7 pct year-on-year to $1.072 bln (784.3 mln euro) in the first six months of 2007, the association of Peru's exporters, Adex, said on August 26, 2007.
Traditional fishing exports generated 72.8 pct of the total, while non-traditional contributed with 27.2 pct. Value-added exports, in turn, rose to 27.2 pct of the total exports compared to 24.3 pct in the first half 2006.
The share of the traditional exports fell from 75.7 pct in the first half of 2006 which reflected a gradual reduction of Peru's dependence on the fish flour as well a diversification and development of the non-traditional fishing exports, Adex said.
Non-traditional exports grew by 31.8 pct to $277.3 mln (202.9 mln euro) with exports to Spain generating $54 mln (39.5 mln euro). Exports to the USA, which is the largest market of crustaceans from Peru, were estimated at $42.3 mln (30.9 mln euro), followed by China, Italy, South Korea, Japan, France, South Africa and Germany.
Hayduk was the leading exporter of Peru with $20.6 mln(15 mln euro), followed by Corporacion Refrigerados with $14.5 mln (10.6 mln euro), Austral Group with $14.1 mln (10.3 mln euro). The big exporters included also Tecnologica de Alimentos, Pacific Freezing Company and Seafrost.
(Note: All figures/comparisons are for H1 2007/H1 2006)
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: August 27, 2007
Traditional fishing exports generated 72.8 pct of the total, while non-traditional contributed with 27.2 pct. Value-added exports, in turn, rose to 27.2 pct of the total exports compared to 24.3 pct in the first half 2006.
The share of the traditional exports fell from 75.7 pct in the first half of 2006 which reflected a gradual reduction of Peru's dependence on the fish flour as well a diversification and development of the non-traditional fishing exports, Adex said.
Non-traditional exports grew by 31.8 pct to $277.3 mln (202.9 mln euro) with exports to Spain generating $54 mln (39.5 mln euro). Exports to the USA, which is the largest market of crustaceans from Peru, were estimated at $42.3 mln (30.9 mln euro), followed by China, Italy, South Korea, Japan, France, South Africa and Germany.
Hayduk was the leading exporter of Peru with $20.6 mln(15 mln euro), followed by Corporacion Refrigerados with $14.5 mln (10.6 mln euro), Austral Group with $14.1 mln (10.3 mln euro). The big exporters included also Tecnologica de Alimentos, Pacific Freezing Company and Seafrost.
(Note: All figures/comparisons are for H1 2007/H1 2006)
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: August 27, 2007
8/24/07
Retailer Supermercados Peruanos To Invest $5.8 Mln in New Hypermarket in Chiclayo
Peruvian retailer Supermercados Peruanos SA will invest $5.8 mln (4.3 mln euro) in the construction of a new hypermarket of its Plaza Vea retail chain in the town of Chiclayo, in the western Lambayeque region, the company said on August 23, 2007.
The Plaza Vea hypermarket in Chiclayo will be opened in October. It will cover a total area of 8,500 sq m in the Real Plaza shopping mall. The hypermarket will offer food and textile goods, electrical appliances, detergents and personal hygiene products.
The construction works are estimated to create 300 direct jobs.
The Plaza Vea chain has 20 hypermarkets in Lima and one in Trujillo.
[Editor's note: Supermercados Peruanos SA announced it would invest $30 mln (22.1 mln euro) in hypermarket openings of the Plaza Vea retail chain in 2007, the Latin America News Digest reported on December 4, 2006. In 2006 the retailer invested $25 mln (18.4 mln euro) in the expansion of Plaza Vea. Apart from Plaza Vea, Supermercados Peruanos runs also the chains Vivanda, Minisol and Santa Isabel.]
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: August 24, 2007
The Plaza Vea hypermarket in Chiclayo will be opened in October. It will cover a total area of 8,500 sq m in the Real Plaza shopping mall. The hypermarket will offer food and textile goods, electrical appliances, detergents and personal hygiene products.
The construction works are estimated to create 300 direct jobs.
The Plaza Vea chain has 20 hypermarkets in Lima and one in Trujillo.
[Editor's note: Supermercados Peruanos SA announced it would invest $30 mln (22.1 mln euro) in hypermarket openings of the Plaza Vea retail chain in 2007, the Latin America News Digest reported on December 4, 2006. In 2006 the retailer invested $25 mln (18.4 mln euro) in the expansion of Plaza Vea. Apart from Plaza Vea, Supermercados Peruanos runs also the chains Vivanda, Minisol and Santa Isabel.]
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: August 24, 2007
8/22/07
U.S. Terra, Australian Orica Mull Petrochemical Investment in Peru
U.S. fertiliser producer Terra Industries and Australian chemicals producer Orica Mining Services are interested in opening a petrochemical complex in Pisco, southwestern Peru, Peru’s Production Ministry said on August 21, 2007.
The complex will have a capacity to produce 550,000 tonnes of ammonia and 300,000 tonnes of ammonium nitrate annually. The project will require a total investment of $1.2 bln (891 mln euro). The complex is expected to start operations in 2009, Peru’s Industry Vice-Minister, Carlos Ferraro, pointed out. The project will have a positive impact on job creation in Pisco, because the construction works will require at least 2,500 workers over a two-year period.
The Peruvian unit of Argentine oil and gas company Pluspetrol, Pluspetrol Peru Corporation, is currently negotiating with Terra and Orica over a contract for the supply of natural gas from Peruvian natural gas field Camisea. Natural gas is the raw material for the production of ammonia and ammonium nitrate. The negotiations are at an advanced stage and the companies could shortly reach an agreement, Ferraro said.
Currently, Peru imports some 170,000 to 190,000 tonnes of ammonium nitrate annually.
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: August 22, 2007
The complex will have a capacity to produce 550,000 tonnes of ammonia and 300,000 tonnes of ammonium nitrate annually. The project will require a total investment of $1.2 bln (891 mln euro). The complex is expected to start operations in 2009, Peru’s Industry Vice-Minister, Carlos Ferraro, pointed out. The project will have a positive impact on job creation in Pisco, because the construction works will require at least 2,500 workers over a two-year period.
The Peruvian unit of Argentine oil and gas company Pluspetrol, Pluspetrol Peru Corporation, is currently negotiating with Terra and Orica over a contract for the supply of natural gas from Peruvian natural gas field Camisea. Natural gas is the raw material for the production of ammonia and ammonium nitrate. The negotiations are at an advanced stage and the companies could shortly reach an agreement, Ferraro said.
Currently, Peru imports some 170,000 to 190,000 tonnes of ammonium nitrate annually.
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: August 22, 2007
Wong acquires supermarket chains
Corporacion Wong has acquired four stores of the supermarkets chain Merpisa paying US$7.05mil, and is completing negotiations to acquire the small chains El Centro (5 stores) and El Super (3 stores). Chiappe family, to which belongs El Centro, has received proposals from Supermercados Peruanos and Falabella, but Wong is confident to incorporate it as part of a strategy to reach the Peruvian interior.
Publication: SABI - Business News
Provider: South American Business Information
Date: August 22, 2007
Publication: SABI - Business News
Provider: South American Business Information
Date: August 22, 2007
Alfa purchases land to erect mall at Jockey Club Arequipa
Inversiones Alfa, teaming the Chilean retailers Falabella, Ripley and Mall Plaza, have acquired a 100,000 m2 land from Jockey Club de Arequipa paying US$70 per m2. Plans are to erect there a mall hosting stores from Falabella, Ripley, Tottus and Sodimac and also other 70 smaller shops, totalling investments of US$40mil.
Publication: SABI - Business News
Provider: South American Business Information
Date: August 22, 2007
Publication: SABI - Business News
Provider: South American Business Information
Date: August 22, 2007
Altas Cumbres expands Jockey Plaza
Jockey Plaza is the largest mall in Lima and should end 2007 with a 15% increase on sales to around US$400mil, estimates general manager Juan Jose Calle, boasting the mall as the top performer in Peru. Owned by the Chilean lessor Altas Cumbres, Jockey Plaza is also investing US$8mil to set up a medical center building and plans expansion in the built area attracting anchor stores as Paris and La+Polar.
Publication: SABI - Business News
Provider: South American Business Information
Date: August 22, 2007
Publication: SABI - Business News
Provider: South American Business Information
Date: August 22, 2007
8/17/07
Chile Enap, Peru Romero, Brazil Petrobras Eye Repsol Fuel Stations in Chile
Chilean state oil company Enap, in cooperation with Peruvian conglomerate Grupo Romero, and Brazilian federal oil and gas company Petroleo Brasileiro (Petrobras) may buy the fuel distribution assets of Spanish oil group Repsol in Chile, Economia y Negocios reported on August 15, 2007.
The operation is still being prepared and the final conditions have not been officially announced, yet. The process is in the hands of the U.S. investment bank Goldman Sachs.
If Enap and Romero, through their joint venture Primax SA, win the deal, Enap will control 10 pct of the fuel stations in the country. Primax is 49 pct controlled by Enap, and Romero holds the majority 51 pct stake. The joint venture plans to have 200 fuel stations at the end of 2007 in Peru, where it currently controls 30 pct of the market. Primax also plans to invest over $30 mln (22.4 mln) to expand to Bolivia and to countries in Central America in the mid-term.
Representatives of Petrobras in Chile had previously announced plans to expand in the local fuel distribution business.
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: August 17, 2007
The operation is still being prepared and the final conditions have not been officially announced, yet. The process is in the hands of the U.S. investment bank Goldman Sachs.
If Enap and Romero, through their joint venture Primax SA, win the deal, Enap will control 10 pct of the fuel stations in the country. Primax is 49 pct controlled by Enap, and Romero holds the majority 51 pct stake. The joint venture plans to have 200 fuel stations at the end of 2007 in Peru, where it currently controls 30 pct of the market. Primax also plans to invest over $30 mln (22.4 mln) to expand to Bolivia and to countries in Central America in the mid-term.
Representatives of Petrobras in Chile had previously announced plans to expand in the local fuel distribution business.
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: August 17, 2007
8/9/07
Peru: Lima hotels sprouting up everywhere
Lima is set to do Peru proud at last as regards hotel rooms, luxury ones at that; the traditional deficit looks set to be remedied over the next 30 months. Projects afoot or planned include the US$12mil remodelling of the hotel formerly known as Cesar's, now run by Casa Andina, and the building of second towers for the hotels Swissotel, Melia and Prince (San Borja), which should be completed in 2008 after joint spending of US$35mil.
Additionally, Colombian group GHL is to open a five-star Sonesta Posadas del Inca in San Isidro next year after investment of US$12mil. It will also remodel its six other hotels at a cost of US$2mil.
The Country Club Hotel too is being remodelled to reach a total of 100 rooms at a cost of US$3mil. France's Accor will inaugurate two hotels in San Isidro and Miraflores respectively next year after investment of US$25mil (using the Novotel and Ibis formats).
Also, Costa del Sol-Ramada has just inaugurated a four-star hotel at Lima's Jorge Chavez airport after spending US$9mil and is now looking for another Lima location; Casa Andina is interested in operating Grupo Sam's Gran Hotel Miraflores; Jonker will construct a five-star hotel at the Centro Aereo Comercial, in front of the airport, too; finally, today, Crowne Plaza, part of the Intercontinental chain, will inaugurate a hotelin Lima after investing US$12mil.
Publication: SABI - Business News
Provider: South American Business Information
Date: August 9, 2007
Additionally, Colombian group GHL is to open a five-star Sonesta Posadas del Inca in San Isidro next year after investment of US$12mil. It will also remodel its six other hotels at a cost of US$2mil.
The Country Club Hotel too is being remodelled to reach a total of 100 rooms at a cost of US$3mil. France's Accor will inaugurate two hotels in San Isidro and Miraflores respectively next year after investment of US$25mil (using the Novotel and Ibis formats).
Also, Costa del Sol-Ramada has just inaugurated a four-star hotel at Lima's Jorge Chavez airport after spending US$9mil and is now looking for another Lima location; Casa Andina is interested in operating Grupo Sam's Gran Hotel Miraflores; Jonker will construct a five-star hotel at the Centro Aereo Comercial, in front of the airport, too; finally, today, Crowne Plaza, part of the Intercontinental chain, will inaugurate a hotelin Lima after investing US$12mil.
Publication: SABI - Business News
Provider: South American Business Information
Date: August 9, 2007
8/6/07
Chilean Ripley To Invest $200 Mln in Expansion in Peru 2008-2009
Chilean department store chain Ripley will double all investments made in Peru until now, allocating $200 mln (145 mln euro) to finance an aggressive expansion plan in the country in the period 2008 to 2009, Ripley executive director for Peru, Sergio Collarte, said on August 5, 2007.
The company has invested a total $89 mln (65 mln euro) in Peru since it entered the country in 1997. In the next two years Ripley will invest in the construction of malls and shops, and the expansion of its financial business in Peru.
Ripley (www.ripley.cl) is specialising in the retail selling of clothes, accessories and home furnishings. It is also involved in the financial business providing consumer credits to customers with its own credit card Ripley and its banking unit Banco Ripley. Banco Ripley offers consumer credits and insurance, as well as the products of U.S. credit card company MasterCard.
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: August 6, 2007
The company has invested a total $89 mln (65 mln euro) in Peru since it entered the country in 1997. In the next two years Ripley will invest in the construction of malls and shops, and the expansion of its financial business in Peru.
Ripley (www.ripley.cl) is specialising in the retail selling of clothes, accessories and home furnishings. It is also involved in the financial business providing consumer credits to customers with its own credit card Ripley and its banking unit Banco Ripley. Banco Ripley offers consumer credits and insurance, as well as the products of U.S. credit card company MasterCard.
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: August 6, 2007
Grupo Gloria invests USD 60 mln
Grupo Gloria announced that it will invest USD 60 million during the 2007 - 2009 period. Resources will be invested in the expansion of its sugarcane production and in its subsidiary Agroindustrial Casa Grande. Only in 2007, Gloria will invest USD 33.7 million in Casa Grande. BIS - Business Information Systems
Publication: BIS - Business Information Systems
Provider: Business Information Systems
Date: August 6, 2007
Publication: BIS - Business Information Systems
Provider: Business Information Systems
Date: August 6, 2007
8/1/07
Peruvian Govt To Invest $221 Mln in Raising Electrification Rate to 83 Pct in 2008
The Government of Peru will invest 700 mln Peruvian soles ($221 mln/162 mln euro) in raising the national electrification rate to 83 pct in 2008, Peru's Energy and Mines Minister, Juan Valdivia, said on July 31, 2007.
At the end of 2007 the electrification rate in Peru is expected to stand at 78 pct, after the fulfilment of the planned investment of over 700 mln soles ($221 mln/162 mln euro) for the year.
The investments are being carried out under the state target of increasing electrification rate in the country to about 90 pct in 2011. The government will use resources from the Treasury and the Rural Electrification Fund.
Chilean state-owned oil company Enap, in partnership with Peruvian gas station operator Primax, has taken the commitment to invest in the opening of 10 vehicular natural gas (VNG) stations by the end of 2007, Valdivia said.
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: August 1, 2007
At the end of 2007 the electrification rate in Peru is expected to stand at 78 pct, after the fulfilment of the planned investment of over 700 mln soles ($221 mln/162 mln euro) for the year.
The investments are being carried out under the state target of increasing electrification rate in the country to about 90 pct in 2011. The government will use resources from the Treasury and the Rural Electrification Fund.
Chilean state-owned oil company Enap, in partnership with Peruvian gas station operator Primax, has taken the commitment to invest in the opening of 10 vehicular natural gas (VNG) stations by the end of 2007, Valdivia said.
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: August 1, 2007
Peru New Vehicle Sales Jump 53.95 Pct Y/Y H1 2007
New vehicle sales in Peru jumped by 53.95 pct year-on-year to 22,753 units in the first half of 2007, the local automobile representatives' association Araper said on July 31, 2007.
Japanese Toyota (www.toyota.com) was the best selling vehicle brand in the country in the first six months of 2007 with a 26.2 pct share. Japanese Nissan (www.nissan.co.jp) ranked second with 11.7 pct, followed by South Korean Hyundai (www.hyundai-motor.com) with 9.1 pct, Japanese Suzuki (www.suzuki.co.jp) with 8.5 pct, Japanese Mitsubishi (www.mitsubishi.co.jp) with 5.9 pct and German Volkswagen (www.vw.com) with 5.2 pct.
A total 36 pct of the vehicles sold in the period corresponded to light cars, station wagons and multi-purpose vehicles. Light sport utility vehicles (SUVs) accounted for 19 pct of the total. Sales of commercial vehicles for cargo transport, including pick-ups and panel vans, accounted for 26 pct; and sales of commercial vehicles for passenger transport, including microbuses and minibuses, for 4.0 pct. Sales of trucks and trailers had a 12 pct share. Bus sales accounted for 3.0 pct.
In June 2007 alone, new vehicle sales in Peru totalled 4,451 units, soaring by 60.16 pct year-on-year, according to Araper data.
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: August 1, 2007
Japanese Toyota (www.toyota.com) was the best selling vehicle brand in the country in the first six months of 2007 with a 26.2 pct share. Japanese Nissan (www.nissan.co.jp) ranked second with 11.7 pct, followed by South Korean Hyundai (www.hyundai-motor.com) with 9.1 pct, Japanese Suzuki (www.suzuki.co.jp) with 8.5 pct, Japanese Mitsubishi (www.mitsubishi.co.jp) with 5.9 pct and German Volkswagen (www.vw.com) with 5.2 pct.
A total 36 pct of the vehicles sold in the period corresponded to light cars, station wagons and multi-purpose vehicles. Light sport utility vehicles (SUVs) accounted for 19 pct of the total. Sales of commercial vehicles for cargo transport, including pick-ups and panel vans, accounted for 26 pct; and sales of commercial vehicles for passenger transport, including microbuses and minibuses, for 4.0 pct. Sales of trucks and trailers had a 12 pct share. Bus sales accounted for 3.0 pct.
In June 2007 alone, new vehicle sales in Peru totalled 4,451 units, soaring by 60.16 pct year-on-year, according to Araper data.
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: August 1, 2007
Antamina copper-zinc mine to boost output by 10 percent
The Antamina copper-zinc mine plans to start-up a new pebble crusher in February 2008 that will increase annual production by about 10 percent, president and chief executive Ian Kilgour told MB.
The $39 million pebble crusher at the mine in Peru`s central Ancash deparment will reach full production capacity in April 2008. "The project is on track and we will be commissioning it in January," he said.
Antamina is forecast this year to produce 1.2 million tonnes of copper, 600,000 tonnes of zinc, 12,000 tonnes of molybdenum and up to 5,000 tonnes of bismuth, all in concentrates, Kilgour said.
Antamina is mining a zinc-rich area of the deposit that will maintain current prodution levels through the next five years before declining.
The company is engaged in an extensive $36 million exploration programme within its open pit mine to identify more resources in the deposit, which is open at depth.
"We are doing 200,000 metres of drilling, some 10,000 metres a month," he said.
Publication: Metal Bulletin
Provider: Metal Bulletin com
Date: August 1, 2007
The $39 million pebble crusher at the mine in Peru`s central Ancash deparment will reach full production capacity in April 2008. "The project is on track and we will be commissioning it in January," he said.
Antamina is forecast this year to produce 1.2 million tonnes of copper, 600,000 tonnes of zinc, 12,000 tonnes of molybdenum and up to 5,000 tonnes of bismuth, all in concentrates, Kilgour said.
Antamina is mining a zinc-rich area of the deposit that will maintain current prodution levels through the next five years before declining.
The company is engaged in an extensive $36 million exploration programme within its open pit mine to identify more resources in the deposit, which is open at depth.
"We are doing 200,000 metres of drilling, some 10,000 metres a month," he said.
Publication: Metal Bulletin
Provider: Metal Bulletin com
Date: August 1, 2007
Chinalco gains control of Peru Copper
Aluminium Corp of China (Chinalco) has completed its offer to acquire the shares of Peru Copper, the Chinese company said.
When the offer expired, 113.4 million shares or around 91 percent of Peru Copper`s outstanding shares had been tendered to company.
Chinalco is paying C$6.60 ($6.17) per share for Peru Copper, up from its initial offer of $6.20 when the two companies first signed the acqusition deal in June (MB Jun 12). The deal was worth $792 million at the time.
It will compulsorily acquire all outstanding shares not tendered to the offer under the Canada Business Corporations Act, it said.
Chinalco intends to apply to de-list Peru Copper shares from the Toronto Stock Exchange, the America Stock Exchange and Lima Stock Exchange.
Publication: Metal Bulletin
Provider: Metal Bulletin com
Date: August 1, 2007
When the offer expired, 113.4 million shares or around 91 percent of Peru Copper`s outstanding shares had been tendered to company.
Chinalco is paying C$6.60 ($6.17) per share for Peru Copper, up from its initial offer of $6.20 when the two companies first signed the acqusition deal in June (MB Jun 12). The deal was worth $792 million at the time.
It will compulsorily acquire all outstanding shares not tendered to the offer under the Canada Business Corporations Act, it said.
Chinalco intends to apply to de-list Peru Copper shares from the Toronto Stock Exchange, the America Stock Exchange and Lima Stock Exchange.
Publication: Metal Bulletin
Provider: Metal Bulletin com
Date: August 1, 2007
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