Brazilian state-owned oil and gas giant Petroleo Brasileiro (Petrobras) will bid for the right to build and operate a fertilisers plant in Peru, Brazilian media reported on October 29, 2007.
The Peruvian Government will accept the proposals of interested in the concession companies until October 31, 2007. The plant will be fuelled by gas from Peru's Camisea field. The consortium offering the highest price for the gas used as raw material will win the bid. The minimum price set by Peru is $1.43 (0.99 euro) per million British thermal units (BTU).
The Peruvian government seeks the construction of a plant with a production capacity of 650,000 tonnes of ammonia and 1.0 million tonnes of urea, the president of Peruvian state-owned oil company PetroPeru, Cesar Gutierrez Pena, said. Petrobras and PetroPeru will jointly bid for the construction and the operation of the plant.
In 2006, Petrobras and PetroPeru signed a memorandum of understanding (MoU) for the construction of fertilisers and polyethylene producing plants in Peru. The MoU was renewed in March 2007.
Their competitors will be U.S. CF Industries and Terra Industries, Chilean Enaex, Mexican Protexa and a consortium comprising Indian Oswal Chemicals and Australian Burrup Fertlizers.
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: October 30, 2007
10/30/07
10/27/07
Reliance Industries in talks with Peru for two Oil Blocks
Reliance Industries, which is set to begin production from the countrys largest gas block, is in talks with Peru for picking up stake in two oil blocks. The contract is likely to be signed soon. The names of the blocks and the amount of stake that RIL is likely to pick up are not known. The agreement with the Peruvian company involves co-operation in exploration and production, besides forming joint ventures for setting up petrochemical plants.
RIL, is also looking to set up a refinery in Central America and is considering a bid for building a 350,000 barrels a day oil refinery in one of the Central American countries of Costa Rica, Guatemala, Honduras and Panama. RIL already operates a 660,000 barrels a day refinery at Jamnagar, Gujarat. Another 580,000 barrels a day refinery is being constructed by its subsidiary Reliance Petroleum, close to the existing refinery.
Publication: Euclid Infotech - Utilities News
Provider: Euclid Infotech
Date: October 26, 2007
RIL, is also looking to set up a refinery in Central America and is considering a bid for building a 350,000 barrels a day oil refinery in one of the Central American countries of Costa Rica, Guatemala, Honduras and Panama. RIL already operates a 660,000 barrels a day refinery at Jamnagar, Gujarat. Another 580,000 barrels a day refinery is being constructed by its subsidiary Reliance Petroleum, close to the existing refinery.
Publication: Euclid Infotech - Utilities News
Provider: Euclid Infotech
Date: October 26, 2007
10/20/07
U.S. Terra, Australian Orica Mull $1.0 Bln Petrochemical Project in Peru
A consortium between U.S. fertiliser producers Terra Industries and Australian chemicals producer Orica Mining Services declared their interest to invest some $1.0 bln (699.1 mln euro) in a petrochemical complex at a meeting with Peruvian President, Alan Garcia, Terra Industries' president, Peter Bennet, said on October 18, 2007.
The complex will be located in Pisco, Ica department, southern Peru. The choice of Pisco was grounded on several factors such as the access to maritime port, and the close location of gas pipeline and a village, which would supply the labour force needed for the complex.
The complex will produce ammonia and ammonium nitrate. Terra Industries will also sign a contract with the Peruvian ferlitiser producer Misti to start production of urea, which will be used for the fertilisers.
The consortium will participate in a tender for the natural gas of of block 88 of the field Camisea, operated by the Peruvian unit of Argentine oil and gas company Pluspetrol, Pluspetrol Peru Corporation. Natural gas is the raw material for the production of ammonia and ammonium nitrate.
Terra Industries is one of the largest U.S. nitrogen producers, with eight petrochemical complexes worldwide.
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: October 19, 2007
The complex will be located in Pisco, Ica department, southern Peru. The choice of Pisco was grounded on several factors such as the access to maritime port, and the close location of gas pipeline and a village, which would supply the labour force needed for the complex.
The complex will produce ammonia and ammonium nitrate. Terra Industries will also sign a contract with the Peruvian ferlitiser producer Misti to start production of urea, which will be used for the fertilisers.
The consortium will participate in a tender for the natural gas of of block 88 of the field Camisea, operated by the Peruvian unit of Argentine oil and gas company Pluspetrol, Pluspetrol Peru Corporation. Natural gas is the raw material for the production of ammonia and ammonium nitrate.
Terra Industries is one of the largest U.S. nitrogen producers, with eight petrochemical complexes worldwide.
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: October 19, 2007
10/17/07
Peru Closes Bayovar Mineral Concessions with Cementos Pacasmayo
Peruvian state investment promotion agency ProInversion finalised the mineral concession contracts with local cement company Cementos Pacasmayo SAA and Juan Paulo Quay SAC, in which local conglomerate Grupo Romero holds 40 pct, regarding the non-metal mineral concessions in the area of Bayovar, Peru's northern Piura region.
The decision for the granting of the concession was made on August 29, 2007. Cementos Pacasmayo will operate chalk and diatomite deposits in Bayovar, while Juan Paulo Quay will exploit the gypsum reserves.
Cementos Pacasmayo will produce at least 40,000 tonnes a year, starting 18 months after the signing of the contract, and to raise the annual output to 80,000 tonne 36 months after the signing of the contract. In terms of chalk, the company's commitment is for 40,000 tonnes annually, starting 60 months after the signing of the contract.
Juan Paulo Quay assumed the obligation to produce the same quantity of gypsum as Cementos Pacasmayo's obligation regarding the diatomite.
The chalk deposits lies on 22,326 ha with 42.4 million tonnes proved reserves and 73 pct average calcium carbonate concentration.
Granted diatomite deposits are located on an area of 6,891 ha and gypsum reserve on an surface of 12,575 ha.
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: October 17, 2007
The decision for the granting of the concession was made on August 29, 2007. Cementos Pacasmayo will operate chalk and diatomite deposits in Bayovar, while Juan Paulo Quay will exploit the gypsum reserves.
Cementos Pacasmayo will produce at least 40,000 tonnes a year, starting 18 months after the signing of the contract, and to raise the annual output to 80,000 tonne 36 months after the signing of the contract. In terms of chalk, the company's commitment is for 40,000 tonnes annually, starting 60 months after the signing of the contract.
Juan Paulo Quay assumed the obligation to produce the same quantity of gypsum as Cementos Pacasmayo's obligation regarding the diatomite.
The chalk deposits lies on 22,326 ha with 42.4 million tonnes proved reserves and 73 pct average calcium carbonate concentration.
Granted diatomite deposits are located on an area of 6,891 ha and gypsum reserve on an surface of 12,575 ha.
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: October 17, 2007
10/16/07
Cerro Verde approves Cerro Negro Norte, Sur development
Peru's Cerro Verde copper mine has approved the development of the Cerro Negro Norte and Cerro Negro Sur deposits that will allow the mine to extend its life until at least 2018, according to a company statement to Peru's securities regulator Conasev.
Cerro Verde, 53.7% controlled by US company Freeport McMoRan Copper & Gold (NYSE: FCX), previously estimated investment at US$3.27mn to bring the Cerro Negro oxide open pit into production.
The company plans to mine Cerro Negro's 72.7Mt of copper oxide resources at a rate of 27,000t/d. It will process some 4.78Mt/y of high-grade "crush leach" material and 3.30Mt/y of run-of-mine using existing primary crushing and heap leach installations.
An FCX representative was not immediately available to provide further details on the project.
Japan's Sumitomo has 21% of Cerro Verde, Peru's Buenaventura (NYSE: BVN) 18.2% and minority shareholders, including mine employees, the remaining 7.2%.
Publication: Business News Americas - English News
Provider: Business News Americas
Date: October 16, 2007
Cerro Verde, 53.7% controlled by US company Freeport McMoRan Copper & Gold (NYSE: FCX), previously estimated investment at US$3.27mn to bring the Cerro Negro oxide open pit into production.
The company plans to mine Cerro Negro's 72.7Mt of copper oxide resources at a rate of 27,000t/d. It will process some 4.78Mt/y of high-grade "crush leach" material and 3.30Mt/y of run-of-mine using existing primary crushing and heap leach installations.
An FCX representative was not immediately available to provide further details on the project.
Japan's Sumitomo has 21% of Cerro Verde, Peru's Buenaventura (NYSE: BVN) 18.2% and minority shareholders, including mine employees, the remaining 7.2%.
Publication: Business News Americas - English News
Provider: Business News Americas
Date: October 16, 2007
10/15/07
Strike hopes to start mining iron ore in Peru by 2009
Australia’s Strike Resources hopes to begin production of iron ore from a new mine in Peru in 2009. The initial operation could produce some 2m tonnes/year from scree and near-surface material at the company’s Cuzco project site.
The scree ore is largely high-grade magnetite, Strike says in a statement obtained by Steel Business Briefing. It is negotiating to use a nearby existing railway to transport the ore to the port of Matarani.
Strike is pursuing exploration work at Cuzco with the aim of delineating an orebody capable of producing 20m t/y. The company is also exploring deposits at Apurimac that could support an additional 20m t/y production.
The initial mine would be separate from these much larger-scale mining operations.
Publication: SBB - Steel Business Briefing
Provider: Steel Business Briefing
Date: October 15, 2007
The scree ore is largely high-grade magnetite, Strike says in a statement obtained by Steel Business Briefing. It is negotiating to use a nearby existing railway to transport the ore to the port of Matarani.
Strike is pursuing exploration work at Cuzco with the aim of delineating an orebody capable of producing 20m t/y. The company is also exploring deposits at Apurimac that could support an additional 20m t/y production.
The initial mine would be separate from these much larger-scale mining operations.
Publication: SBB - Steel Business Briefing
Provider: Steel Business Briefing
Date: October 15, 2007
10/14/07
Peru excludes Cusco from airport concession package
Peru's Government is to exclude Cusco from its forthcoming package of airport concessions in the south of the country, as it sees the possibility of opening an independent tender process which could include construction of a new airport at Peru's principle tourism destinations.
Peruvian transport minister Veronica Zabala told local reporters that Cusco will "definitely not be part of the concession process of the southern airports".
This leaves the list of airports set for privatising their management in 2008 as covering Arequipa, Tacna, Juliaca, Ayacucho, Madre de Dios, Ica and Apurimac.
The ministry says it has already performed an initial viability study for a new international airport serving Cusco near Chincheros, but a spokesman could not confirm if construction of a new airport would be part of the conditions for assuming the concession of the current, operationally limited, airport.
Publication: Reed Business Information - Air Transport Intelligence
Provider: Reed Business Information, The Flight Group
Date: October 14, 2007
Peruvian transport minister Veronica Zabala told local reporters that Cusco will "definitely not be part of the concession process of the southern airports".
This leaves the list of airports set for privatising their management in 2008 as covering Arequipa, Tacna, Juliaca, Ayacucho, Madre de Dios, Ica and Apurimac.
The ministry says it has already performed an initial viability study for a new international airport serving Cusco near Chincheros, but a spokesman could not confirm if construction of a new airport would be part of the conditions for assuming the concession of the current, operationally limited, airport.
Publication: Reed Business Information - Air Transport Intelligence
Provider: Reed Business Information, The Flight Group
Date: October 14, 2007
10/11/07
Five Companies Interested in Peruvian Ica Gas Pipeline
Spanish Gas Natural, U.S. Energy Transfer and Colombian Promigas, Invercolsa and TGI, are interested in participating in the construction and operation of the $63 mln (44.5 mln euro) gas pipeline to Ica, in southern Peru, local investment promotion agency ProInversion said on October 10, 2007.
Gas Natural, Energy Transfer and Promigas have already bought the package of documents for the participation, while Invercolsa and TGI expressed interest to participate.
Gas Natural specialises in natural gas supply, distribution and sale, and operates in Spain, Mexico, Argentina, Colombia, Brazil, Italy, Puerto Rico and Morocco.
Energy Transfer, in turn, acts in the area of the transportation, storage and wholesale of natural gas in the United States.
The international tender for the concession was launched in August 2007 and is scheduled to finish in January 27, 2008. The concession of the Ica-Pisco-Marcona-Nazca gas pipeline is for a 30-year period. The winner in the tender will be responsible for the pipeline design, construction, operation and maintenance.
There are possibilities the total investments in the project to expand to $180 mln (126.4 mln euro), if additional demand is secured before the end of the concession contract.
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: October 11, 2007
Gas Natural, Energy Transfer and Promigas have already bought the package of documents for the participation, while Invercolsa and TGI expressed interest to participate.
Gas Natural specialises in natural gas supply, distribution and sale, and operates in Spain, Mexico, Argentina, Colombia, Brazil, Italy, Puerto Rico and Morocco.
Energy Transfer, in turn, acts in the area of the transportation, storage and wholesale of natural gas in the United States.
The international tender for the concession was launched in August 2007 and is scheduled to finish in January 27, 2008. The concession of the Ica-Pisco-Marcona-Nazca gas pipeline is for a 30-year period. The winner in the tender will be responsible for the pipeline design, construction, operation and maintenance.
There are possibilities the total investments in the project to expand to $180 mln (126.4 mln euro), if additional demand is secured before the end of the concession contract.
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: October 11, 2007
10/10/07
Investments in Peru Camisea Seen at $4.0 Bln by 2011
Projects at Peru's Camisea natural gas field are expected to attract investments of nearly $4.0 bln (2.833 bln euro) within the next four years, the Energy Minister Juan Valdivia forecast on October 9, 2007.
The construction of the Pampa Melchorita plant of the consortium Peru LNG alone is projected to cost some $2.0 bln (1.417 bln euro), the minister added. The plant, whose construction is set to be completed in 2010, is aimed at exporting liquefied natural gas (LNG) from Camisea.
There also are another petrochemical projects in consideration, involving methane use from Camisea's natural gas. The investment value of each of the projects is estimated at over $1.0 bln (708.3 mln euro). However, the current natural gas reserves allow Argentine Pluspetrol, which is the operator of the Camisea field, to develop only two of these projects.
On October 25, Pluspetrol will announce the names of the companies it will contract to sell natural gas for developing their own petrochemical projects.
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: October 10, 2007
The construction of the Pampa Melchorita plant of the consortium Peru LNG alone is projected to cost some $2.0 bln (1.417 bln euro), the minister added. The plant, whose construction is set to be completed in 2010, is aimed at exporting liquefied natural gas (LNG) from Camisea.
There also are another petrochemical projects in consideration, involving methane use from Camisea's natural gas. The investment value of each of the projects is estimated at over $1.0 bln (708.3 mln euro). However, the current natural gas reserves allow Argentine Pluspetrol, which is the operator of the Camisea field, to develop only two of these projects.
On October 25, Pluspetrol will announce the names of the companies it will contract to sell natural gas for developing their own petrochemical projects.
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: October 10, 2007
10/9/07
Rural Telecom wins broadband licence in Peru
Rural Telecom, Peru-based VSAT operator, has won a licence to offer broadband services in over 1,700 localities in Peru, covering over 1.5 million possible customers, reports Ahciet. With the move, the company will receive USD 8.84 million funding from the government. Osiptel, Peruvian telecommunications regulator, will supervise the quality and continuity of the project.
Publication: Telecom.paper News
Provider: Telecom.paper
Date: October 9, 2007
Publication: Telecom.paper News
Provider: Telecom.paper
Date: October 9, 2007
10/7/07
Geneva Resources, Inc. Reports Expanded Trenching on Vilcoro Gold Property, Peru
Marcus Johnson, President of Geneva Resources, Inc. ("the Company") (BULLETIN BOARD: GVRS) and Lori McClenahan, President of St. Elias Mines Ltd. ("St. Elias"), report they have launched next-stage trenching on the Vilcoro Gold Property (the "Property") located in north-central Peru. The trenching will be carried out in order to establish specific targets for an upcoming drill program. Geneva has an option to earn a 66% interest in the Property from St. Elias.
Chief Geologist on the project, John Brophy, together with exploration crews, have carried out the reconnaissance and follow-up work in order to collect gold-in-soil anomalous samples across the central portion of the Vilcoro property. From the total of approximately 1,000 samples collected, three trends have emerged which warrant trenching.
A detailed trenching program on the Main Trend, South Trend and newly identified trend will begin immediately, with samples submitted to ALS Laboratory, Peru for analysis. IP/Resistivity geophysical surveys are also planned. The geologic team and management will use the additional data in determining the most strategic pattern for upcoming drill targets on a planned drill program slated to begin in the first quarter of 2008.
The Vilcoro Gold Property comprises 1,600 hectares and lies along the same geological belt of Tertiary rocks that hosts many multi-million-ounce deposits in northern Peru such as Newmont's Yanacocha Mine (+40 million oz gold) and Barrick's Pierina deposit (8 million oz. gold). The Property is favorably located adjacent to the claim block that covers the Lagunas Norte mine (+9 million oz gold) recently put into production by Barrick Gold in the Alto Chicama mining district of central Peru.
Geneva Resources, Inc. is a mineral exploration company participating in known mineral producing regions. The Company is focused on the exploration and advancement of well-defined gold, copper and mineral prospects. Geneva Resources' current exploration initiatives include Central Peru; Nigeria, Africa; Saskatchewan, Canada and Panama.
Publication: PR Newswire
Provider: PR Newswire
Date: October 6, 2007
Chief Geologist on the project, John Brophy, together with exploration crews, have carried out the reconnaissance and follow-up work in order to collect gold-in-soil anomalous samples across the central portion of the Vilcoro property. From the total of approximately 1,000 samples collected, three trends have emerged which warrant trenching.
A detailed trenching program on the Main Trend, South Trend and newly identified trend will begin immediately, with samples submitted to ALS Laboratory, Peru for analysis. IP/Resistivity geophysical surveys are also planned. The geologic team and management will use the additional data in determining the most strategic pattern for upcoming drill targets on a planned drill program slated to begin in the first quarter of 2008.
The Vilcoro Gold Property comprises 1,600 hectares and lies along the same geological belt of Tertiary rocks that hosts many multi-million-ounce deposits in northern Peru such as Newmont's Yanacocha Mine (+40 million oz gold) and Barrick's Pierina deposit (8 million oz. gold). The Property is favorably located adjacent to the claim block that covers the Lagunas Norte mine (+9 million oz gold) recently put into production by Barrick Gold in the Alto Chicama mining district of central Peru.
Geneva Resources, Inc. is a mineral exploration company participating in known mineral producing regions. The Company is focused on the exploration and advancement of well-defined gold, copper and mineral prospects. Geneva Resources' current exploration initiatives include Central Peru; Nigeria, Africa; Saskatchewan, Canada and Panama.
Publication: PR Newswire
Provider: PR Newswire
Date: October 6, 2007
10/5/07
Peru's Cormin closes metals-backed deal
Cormin, a Peruvian subsidiary of commodities trader Trafigura Beheer has closed a US$200mn syndicated borrowing base facility, via bookrunners and mandated lead arrangers Fortis and Natixis.
The transaction is structured as a one-year revolving borrowing base facility backed by non-ferrous metals and concentrates inventories as well as trade receivables in Peru.
It was syndicated out to a pool of six banks: Bayerische Hypo-und Vereinsbank, Crédit Agricole, Credit Suisse, Scotia Bank (Peru), Société Générale and Standard Chartered.
The Cormin group of companies in Peru, as well as Chile, Mexico and Bolivia provide supply and logistical support for mining activities along the Pacific coast of South America. In Peru, the group has investments in Condestable copper mine, Catalina Huanca zinc, lead and silver mine, and Volcan, a large lead, zinc and silver producer.
Cormin"s Peruvian facilities also include the "Antonio Cornetti Memorial Warehouse,” based in the Callao port district of Lima, dedicated to the handling and storage of lead concentrates. From this warehouse, Cormin supplies blended lead, zinc, and copper concentrates for smelters around the world.
The group runs similar facilities on a smaller scale in Copiapo in Chile and in Mexico.
Publication: Global Trade Review News
Provider: Exporta Publishing & Events Ltd
Date: October 4, 2007
The transaction is structured as a one-year revolving borrowing base facility backed by non-ferrous metals and concentrates inventories as well as trade receivables in Peru.
It was syndicated out to a pool of six banks: Bayerische Hypo-und Vereinsbank, Crédit Agricole, Credit Suisse, Scotia Bank (Peru), Société Générale and Standard Chartered.
The Cormin group of companies in Peru, as well as Chile, Mexico and Bolivia provide supply and logistical support for mining activities along the Pacific coast of South America. In Peru, the group has investments in Condestable copper mine, Catalina Huanca zinc, lead and silver mine, and Volcan, a large lead, zinc and silver producer.
Cormin"s Peruvian facilities also include the "Antonio Cornetti Memorial Warehouse,” based in the Callao port district of Lima, dedicated to the handling and storage of lead concentrates. From this warehouse, Cormin supplies blended lead, zinc, and copper concentrates for smelters around the world.
The group runs similar facilities on a smaller scale in Copiapo in Chile and in Mexico.
Publication: Global Trade Review News
Provider: Exporta Publishing & Events Ltd
Date: October 4, 2007
10/4/07
Peruvian Natural Gas Output Jumps 48.92 Pct Y/Y Jan-Sept 2007
The natural gas output in Peru jumped by 48.92 pct year-on-year to 66.579 billion cubic feet in the period January to September 2007, Peru's state oil sector promotion agency Perupetro said on October 3, 2007.
In September 2007 the country's average natural gas production decreased by 2.42 pct month-on-month to 300.8 million cubic feet per day (mcfd), according to Perupetro data. The decrease is mainly attributed to the lower gas consumption of the thermoelectric plants.
Block 88 of the field Camisea, operated by the Peruvian unit of Argentine oil and gas company Pluspetrol, Pluspetrol Peru Corporation, reported the highest average output in the country, this of 222.15 mcfd in September 2007. Block 31-C, operated by Peruvian gas producer Aguaytia Energy del Peru, ranked second with 41.7 mcfd of natural gas in the ninth month of 2007. Block Z-2B, operated by the Peruvian unit of U.S. oil company Petro-Tech International, Petro-Tech Peruana, reported a production of 18.24 mcfd in September 2007.
The revenue to the state generated by Perupetro in September 2007 totalled 236.85 mln Peruvian soles ($78.2 mln/55.4 mln euro).
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: October 4, 2007
In September 2007 the country's average natural gas production decreased by 2.42 pct month-on-month to 300.8 million cubic feet per day (mcfd), according to Perupetro data. The decrease is mainly attributed to the lower gas consumption of the thermoelectric plants.
Block 88 of the field Camisea, operated by the Peruvian unit of Argentine oil and gas company Pluspetrol, Pluspetrol Peru Corporation, reported the highest average output in the country, this of 222.15 mcfd in September 2007. Block 31-C, operated by Peruvian gas producer Aguaytia Energy del Peru, ranked second with 41.7 mcfd of natural gas in the ninth month of 2007. Block Z-2B, operated by the Peruvian unit of U.S. oil company Petro-Tech International, Petro-Tech Peruana, reported a production of 18.24 mcfd in September 2007.
The revenue to the state generated by Perupetro in September 2007 totalled 236.85 mln Peruvian soles ($78.2 mln/55.4 mln euro).
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: October 4, 2007
10/3/07
Visa Card Transactions in Peru At $1.142 Bln Jan-Aug 2007
The transactions carried out via Visa credit and debit cards in Peru increased to $1.142 bln (806.4 mln euro) in the period from January to August 2007, up 33.5 pct year-on-year, Visanet del Peru, the local unit of U.S. credit card company Visa International, said on October 2, 2007.
The transactions carried out via Visa Electron debit cards rose by 38.5 pct to $441.6 mln (311.8 mln euro), while the transactions via Visa credit cards increased by 30.5 pct to $701.1 mln (495 mln euro).
The Visa cards' transactions marked the biggest rise in the Libertad department, up 66.6 pct, followed by Piura, up 60 pct, Cusco, up 53.5 pct, Lambayeque, up 48.4 pct, and Arequipa, up 45.7 pct.
The average sum of each Visa credit card transaction went up to $42.6 (30 euro) from $39.3 (27.7 euro), while the average transaction of Visa Electron increased to $27.5 (19.4 euro) from $25.6 (18 euro).
[Editor's note: According to data of the Latin America News Digest from January 22, 2007, Visanet del Peru (www.visanet.com.pe) reported $1.559 bln ($2.21 bln euro) in transactions carried out with Visa debit and credit cards in 2006, up 34.1 pct year-on-year.]
(Note: Unless otherwise stated, all figures/comparisons are for Jan-Aug 2007/Jan-Aug 2006.)
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: October 3, 2007
The transactions carried out via Visa Electron debit cards rose by 38.5 pct to $441.6 mln (311.8 mln euro), while the transactions via Visa credit cards increased by 30.5 pct to $701.1 mln (495 mln euro).
The Visa cards' transactions marked the biggest rise in the Libertad department, up 66.6 pct, followed by Piura, up 60 pct, Cusco, up 53.5 pct, Lambayeque, up 48.4 pct, and Arequipa, up 45.7 pct.
The average sum of each Visa credit card transaction went up to $42.6 (30 euro) from $39.3 (27.7 euro), while the average transaction of Visa Electron increased to $27.5 (19.4 euro) from $25.6 (18 euro).
[Editor's note: According to data of the Latin America News Digest from January 22, 2007, Visanet del Peru (www.visanet.com.pe) reported $1.559 bln ($2.21 bln euro) in transactions carried out with Visa debit and credit cards in 2006, up 34.1 pct year-on-year.]
(Note: Unless otherwise stated, all figures/comparisons are for Jan-Aug 2007/Jan-Aug 2006.)
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: October 3, 2007
Deutsche Bank To Start Business in Peru Q1 2008
German banking group Deutsche Bank plans to start operations in Peru in the first quarter of 2008, once it obtains a permission from the country's banking sector regulator SBS, the president of Deutsche Bank Chile, Jose Miguel Alcalde, said.
The bank applied for the permission in August 2007, motivated by the financial stability in the country.
The activity of the bank in Peru will be strongly supported by the offices in Chile and New York. The president of the Peruvian unit will be Jose Miguel Alcalde.
Initially the Peruvian model will be very similar to the activity of the bank in Chile, with similar money supply, presence on the interest rate markets, and corporate finances covering companies and institutional investors on the domestic and international markets.
Peru will be the 76th country where Deutsche Bank will operate. The Andean country has been registering one of the highest economic growths in Latin America for the last ten years.
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: October 3, 2007
The bank applied for the permission in August 2007, motivated by the financial stability in the country.
The activity of the bank in Peru will be strongly supported by the offices in Chile and New York. The president of the Peruvian unit will be Jose Miguel Alcalde.
Initially the Peruvian model will be very similar to the activity of the bank in Chile, with similar money supply, presence on the interest rate markets, and corporate finances covering companies and institutional investors on the domestic and international markets.
Peru will be the 76th country where Deutsche Bank will operate. The Andean country has been registering one of the highest economic growths in Latin America for the last ten years.
Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: October 3, 2007
10/1/07
Altas Cumbres close to sale deal with Scotiabank
Continuing its financial restructuring process, Chilean group Altas Cumbres, linked to the impresario Santiago Cummins, is thought to be close to selling the Peruvian entity Banco del Trabajo to Scotiabank of Canada. As well as the Peruvian bank, Guatemala's Banco de Antigua and the Dominican Republic's Banco de Ahorro y Credito Altas Cumbres are also to be included in the package for a total of around US$200mil. The Chilean group has already sold off assets in Peru, Costa Rica and Ecuador this year whilst Scotiabank has been adding Latin American assets this year. Banco del Trabajo started up in Peru in late 1994 and has 96 branches and a net worth of almost US$46mil these days.
Publication: SABI - Business News
Provider: South American Business Information
Date: October 1, 2007
Publication: SABI - Business News
Provider: South American Business Information
Date: October 1, 2007
Is Ace Maestro for Sale?
The conglomerates Ripley and Cencosud, from Chile, affirm that they have talked with the proprietors of Ace Home Center for a possible purchase or merger, whereas this chain denies it sharply.
Most analysts of retail sector consider that Maestro is not on sale... at this very moment. After the recent entrance of the investment group Enfoca, Maestro Ace Home Center, previous injection of capital, aims to become a shopping center developer (in fact already it opened one in Ate) and to open an own financing company. The idea of Enfoca (who represents American real estate group Farallon Capital) is to consolidate the company and soon to sell it to a much greater price in the medium term (not more than five years).
Publication: Dia Uno
Provider: El Comercio
Date: October 1, 2007
The translation of this article has been prepared using machine translation software, which has been enhanced with a specialized dictionary
Most analysts of retail sector consider that Maestro is not on sale... at this very moment. After the recent entrance of the investment group Enfoca, Maestro Ace Home Center, previous injection of capital, aims to become a shopping center developer (in fact already it opened one in Ate) and to open an own financing company. The idea of Enfoca (who represents American real estate group Farallon Capital) is to consolidate the company and soon to sell it to a much greater price in the medium term (not more than five years).
Publication: Dia Uno
Provider: El Comercio
Date: October 1, 2007
The translation of this article has been prepared using machine translation software, which has been enhanced with a specialized dictionary
Subscribe to:
Posts (Atom)
