8/28/08

Kuntur and Odebrecht to sign agreement to develop Andean Gas Pipeline Project in southern Peru

Gas Transport Company Kuntur and Brazil's construction company Odebrecht will sign an agreement that will allow the Brazilian conglomerate to join the consortium led by Kuntur, responsible for the development of the Andean Gas Pipeline project in Southern Peru, which means that the work team for this project is already consolidated.

The Andean Gas Pipeline project in Southern Peru, led by Kuntur, will transport natural gas from fields located at Cusco region up to 16 provinces in southern Peru, including cities of Cusco, Arequipa, Matarani (Arequipa), Juliaca (Puno) and Ilo (Moquegua) with and investment of about 1,3 billion dollars.

"The signing of this agreement means that we will count with the vast experience and prestigious of Odebrecht in the construction of big energy projects", said the executive president of Conduit Capital Partners, parent company of the Peruvian Gas Transport Company Kuntur.

In turn, Odebrecht investment manager Luis de Castro stated that the company is pleased to join this project and contribute its experience in works of same nature.

Publication: Andina - English Newswire
Provider: Andina
Date: August 28, 2008

8/27/08

King Kong, traditional Peruvian pastry likely to be exported to Mexico

King Kong, traditional Peruvian pastry likely to be exported to Mexico. Photo/Andina/Archive Lima, Aug. 26 (ANDINA).- Peruvian San Roque company plans to export this year to Mexico the traditional pastry of Lambayeque called "king kong", that consists of several sheets of a type of shortbread stuffed with manjar blanco, peanuts and cooked fruits such as pineapple, reported today the manager of the company, Jorge Piscoya.
Peru's government also shows expectations for a possible exportation of this product to South American countries.

Piscoya emphasized that after the successful exportation of "king kong" to the US market, the product has also been offered to the Peruvian communities in Dominican Republic, Costa Rica, Sweden, Switzerland and Japan.

"After great difficulties, we are sending to Japan half a ton monthly", he added.

Publication: Andina - English Newswire
Provider: Andina
Date: August 27, 2008

8/25/08

Camargo Corrêa wins contract to build, operate US$270mn treatment plant

Brazilian construction firm Camargo Corrêa won the contract to build and operate the second biggest water treatment plant in Peru, valued at US$270mn, Brazilian press reported.

The new plant will be built in Huachipa, in the metropolitan area of Lima.

To participate in the process, Camargo Corrêa formed a consortium with French OTV, in which the Brazilian firm has an 81% share. As part of the contract, Camargo will operate the plant for the first four years.

Currently, Camargo has a portfolio of projects worth about US$400mn in Peru but this is the first sanitation initiative. The firm plans to expand operations in sanitation by participating in a series of tenders for water and sewerage services that Peruvian President Alan García is planning to implement by 2011.

"This is one of our principle focus points here. There is a lot of room for growth in the sanitation sector in Peru," Marcos Wanderlei, Andean division director of Camargo Corrêa, was quoted as saying by Brazilian paper Valor Econômico.

He added that the company is planning to invest nearly US$600mn in new projects over the next two years.

The Huachipa treatment plant is one of the most important projects in García's sanitation program. The plant will supply potable water to 2.4mn people in five municipalities in the metropolitan region.

The winning consortium will also build a 27km distribution network, two 5km tunnels and five reservoirs. "This is a big project, one of the largest ever carried out in the Peruvian sanitation sector," Wanderlei said.

The US$270mn plant is part of a series of investments that the Peruvian government is making in sanitation. García aims to supply potable water and sewerage services to the entire greater Lima population by 2011, with investments of roughly US$2.7bn.

In the coming months, the government will call tenders for a water supply plant in the capital which requires a US$285mn investment and two sewage treatment plants costing over US$500mn.

Camargo Corrêa plans to participate in these bids, Wanderlei said.

Publication: Business News Americas - English News
Provider: Business News Americas
Date: August 25, 2008

8/21/08

Inca Pacific buys ball mill for Magistral

Vancouverite Inca Pacific Resources (TSX-V: IPR) has awarded Bateman Engineered Technologies the contract for the supply of a ball mill, expected to be delivered by September 2010, for its Magistral copper-molybdenum project in Peru, the former reported.

"We are very pleased to be placing this long lead-time order while we wait to receive approval of our environmental and social impact assessment as well as many other key permits. We believe that working on multiple critical path matters at the same time is essential to keep the Magistral project on schedule," Inca Pacific's CEO Anthony Floyd said in a statement.

Inca Pacific said it is also evaluating the purchase of either a semi-autogenous grinding (SAG) mill or a high pressure grinding roll (HPGR) mill.

"Operating costs and delivery times for HPGR mills are currently better than SAG mills. In addition, the HPGR technology may offer advantages in plant capacity and process recoveries," the statement said.

A decision regarding which milling technology will be used at Magistral, as well as finalization of negotiations with a vendor to provide the selected technology is expected within 45 days.

The project entails building a 20,000t/d open-pit mine and concentrator to produce copper and molybdenum concentrates for 15 years, and has an estimated US$402mn capex.

Publication: Business News Americas - English News
Provider: Business News Americas
Date: August 20, 2008

8/20/08

Pucallpa, Iquitos ports to be launched for concession in 2009

Peruvian ports Pucallpa and Iquitos are scheduled to be concessioned during the first quarter of 2009, local paper Gestión quoted transport and communications (MTC) deputy minister Carlos Puga as saying.

The tenders were expected to launch this month, following a statement issued by the national port authority (APN) earlier this year.

The modernization of Iquitos port will require an US$18mn investment, while works in Pucallpa will need at least US$24mn, Puga said.

MTC is currently working on the development of a multimodal transport plan that will include new concession initiatives, he added.

The government is also working on modifying a policy that holds MTC responsible for highway maintenance. Authorities want to be able to hand these services over to the private sector as well.

The ports will be concessioned separately and their master plans have already been submitted to MTC's public investment projects department for approval.

According to past reports, Chinese investors have expressed interest in the Iquitos port, in Loreto region. Meanwhile Spanish capitals have sought information regarding Pucallpa, in Ucayali region.

In the meantime, APN continues to design master plans for ports Yurimaguas in Loreto, Ilo in Moquegua and Salaverri in La Libertad.

All bidding processes will be handled by state agency for promoting private investment ProInversión.

Publication: Business News Americas - English News
Provider: Business News Americas
Date: August 20, 2008

Argentina keen on investing in Peru due to FTA with United States

The secretary of External Relations in Argentina, ambassador Victorio Taccetti, during his official visit to Peru, said that Argentine investors would go into partnership with Peruvian entrepreneurs to carry out exports to countries, where Peru have signed trade agreements.

Mainly, Taccetti pointed out the benefits that a Free Trade Agreement between Peru and the United States represents, as well Peru's participation in the Asia-Pacific Economic Cooperation Forum (APEC).

"Of course, we want to seize every business opportunity along with Peruvian companies, according to the norms established by free trade agreements and Peru's integration into this process to help us entering these markets; if they are great opportunities, we will take advantage of them.", he said to the local press.

In addition, he guarantteed that trade and investment relations between Peru and Argentina are on the right track, as 60 Argentine businessmen' presence prove it.

Thease investors will participate in the seminar called "Business Opportunities between Argentina and Peru", to be held during their visit.

Publication: Andina - English Newswire
Provider: Andina
Date: August 20, 2008

Argentina keen on investing in Peru due to FTA with United States

The secretary of External Relations in Argentina, ambassador Victorio Taccetti, during his official visit to Peru, said that Argentine investors would go into partnership with Peruvian entrepreneurs to carry out exports to countries, where Peru have signed trade agreements.

Mainly, Taccetti pointed out the benefits that a Free Trade Agreement between Peru and the United States represents, as well Peru's participation in the Asia-Pacific Economic Cooperation Forum (APEC).

"Of course, we want to seize every business opportunity along with Peruvian companies, according to the norms established by free trade agreements and Peru's integration into this process to help us entering these markets; if they are great opportunities, we will take advantage of them.", he said to the local press.

In addition, he guarantteed that trade and investment relations between Peru and Argentina are on the right track, as 60 Argentine businessmen' presence prove it.

Thease investors will participate in the seminar called "Business Opportunities between Argentina and Peru", to be held during their visit.

Publication: Andina - English Newswire
Provider: Andina
Date: August 20, 2008

8/18/08

Torvisco hard at work

Grupo Torvisco of Peru is busy as a bee right now. It plans to construct three malls in Lima; the Anpay Peru brewery is 98% finished just two kilometres from the Anypsa paint plant it owns; a new mall, Imperio, is 25% built in Puente Piedra; said mall will feature the Torvisco supermarket chain Uniko; the group already owns another three sites in Lima that could be used for shopping centres too, notes Nemecio Torvisco Palomino, financial director of the holding company. The brewery was meant to have been built two years ago but a lack of liquidity was not overcome. Soft drinks and waters will also be launched during 2009 using the brands Top Kola and Gaviota.

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

8/15/08

Petroperu Doubles Diesel Imports to Supply TPPs

Peruvian state-owned oil company Petroperu has doubled diesel imports in order to supply the country's thermoelectric power plants (TPPs) amid gas supply problems, it said on August 14, 2008.

The company raised its diesel imports to 12,000 barrels per day (bpd) from 6,000 bpd on demand by electricity producers Edegel and EnerSur, Petroperu president Cesar Gutierrez said.

The companies sought to use diesel in the place of natural gas due to reduced gas supplies following a congestion of a pipeline which transports natural gas from Peru's Camisea field.

Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: August 15, 2008

8/14/08

Epicor signs Teresópolis, SCS BMS as new channel partners

US business software solutions provider Epicor (Nasdaq: EPIC) has signed alliances with IT systems integrators Teresópolis and SCS BMS Perú, as a way to enter the Peruvian market, Epicor said in a statement.

Through these alliances, Epicor plans to offer Peruvian companies its entire portfolio of ERP, CRM, SCM and professional services automation solutions (PSA).

"Our alliances with Teresópolis as SCS support plans to increase our presence in the Latin American market," Epicor sales director for Latin America, Iván Rebolledo said.

Founded in 1984, Teresópolis provides company streamlining products and services in several business areas. In association with Technology Coast Partners, Teresópolis plans to offer consultancy, implementation, installation, customization, support and training for Epicor's solutions oriented to the manufacturing industry.

Meanwhile, SCS BMS Perú is the local unit of Venezuelan integrator SCS BMS and one of Epicor's channels for sales, implementation and support of the Epicor iScala solution.

With nearly 13 years of operations in Latin America, Epicor distributes three versions of its ERP in the region: Enterprise, iScala and Vantage. With the solutions, the company has penetrated the distribution and financial, pharmaceuticals and manufacturing segments, respectively.

Publication: Business News Americas - English News
Provider: Business News Americas
Date: August 13, 2008

Egasa granted hydro concession totaling 560MW

Peru's energy and mines ministry has granted generator Egasa a temporary concession for hydro projects totaling 560MW of installed capacity.

Egasa, which submitted the request for the concession in May, has six months to carry out feasibility studies, the official gazette reported.

The projects are Lluta I and II, and Lluclla I and II.

Studies will be carried out in the Huambo, Lluta, Huanca and Santa Isable de Siguas districts of Caylloma and Arequipa provinces in Arequipa region.

Egasa already holds a temporary concession for the 310MW Molloco hydro project.

The generator operates the Charcani I, II, III, IV, V and VI hydro plants and thermo plants Chilina y Mollendo. Egasa June output reached 73.1GWh.

Publication: Business News Americas - English News
Provider: Business News Americas
Date: August 13, 2008

8/13/08

Gold Fields plans to invest $800 million to operate Cerro Corona mining project

The company Gold Fields, fourth producer of gold in the world, plans to invest 800 million dollars in the exploitation of minerals of the deposit found in the project Cerro Corona, located in Cajamarca region, reported today its executive vice-president for South America, Juan Luis Kruger. Kruger indicated that the company has already invested 550 million dollars in the mentioned project and that it is in the final stage of the mining plant setting up.

"On August 10 the plant started producing as a test, minerals concentrates and, from this weekend, we will begin to produce the lot of minerals that we will export to the refineries that we have abroad ", he indicated.

In addition, Kruger pointed out that the first consignment of golden and copper concentrates will depart from Salaverry's port in La Libertad to international markets in the month of September.

Cerro Corona project is located ten kilometers northwest of the town of Hualgayoc, 30 kilometres southwest of Bambamarca (provincial capital) and 90 kilometers away from Cajamarca city, the capital of the department.

Publication: Andina - English Newswire
Provider: Andina
Date: August 13, 2008

Apoquindo Minerals lists on Lima exchange

Vancouverite Apoquindo Minerals (TSX-V: AQM) has started trading on Peru's Lima stock exchange under symbol AQM, the company reported in a statement.
Apoquindo is one of several foreign juniors that have listed on Lima's bourse in recent years as a complement to their initial listings, typically in Toronto or London.

The company is optioning the Pachagón porphyry copper project in Peru's La Libertad region from ASC Peru, a subsidiary of US-based Apex Silver (Amex: SIL).

However, Apoquindo is not focused strictly on exploration and plans to bring into production a roughly 25,000t/y copper mine of the same name in Chile within the coming years.

The company is planning to release a resource update on the project this month following which it will embark on a road show to raise funds.

Publication: Business News Americas - English News
Provider: Business News Americas
Date: August 13, 2008

8/11/08

Precor mulls investment in neighboring markets

Peru's major construction steel fabricator Precor is mulling investments in neighboring countries, such as Chile and Colombia - or even the Mexican market, Steel Business Briefing hears from company sources.

In Peru, the group is finishing an expansion program that will lift processing capacity by 35% to 120,000 t/y or so. It has invested US$9m in 2007 and should invest another US$5m this year, in order to maintain its leadership in the Peruvian market.

"A strategy to invest abroad should be defined over the next 12 months," a source at the company says. For 2008, Precor expects to reach revenues of US$100m, a 20-25% growth compared to last year.

Publication: SBB - Steel Business Briefing
Provider: Steel Business Briefing
Date: August 11, 2008

8/8/08

Wong Administracion y Servicios invests in Plaza Norte mall

WAS (W. Administracion y Servicios), the new firm set up by Erasmo Wong (the former main shareholder in Wong Supermercados), is to invest over Soles$180mil in the first stage of the Plaza Norte mall project. This first stage will be inaugurated for Christmas 2008, featuring an Hipermercado Metro, a Maestro Home Center and other smaller operations. Overall, the project will boast six anchor stores, three of which are already on board via leasing contracts signed with WAS. A bus terminal and a hotel will go up nearby soon.

Publication: SABI - Business News
Provider: South American Business Information
Date: August 8, 2008

8/4/08

Eco Inn plans to open four-star hotel in Lima district in 2009

The US hotel chain Eco Inn plans to open a four-star hotel near the El Olivar park in the Limean district of San Isidro during the second half of 2009.

The hotel, which aims to meet the demand of the growing business sector, will have 45 rooms, a business center, swimming pool and gymnasium, among other facilities.

"Although we had planned to open the hotel about the middle of this year, we have to postpone the opening till we get all municipal permissions and license", Eco Inn marketing manager in Peru, Rocío Gil, said.

She added that the company has the necessary investment for the project and so far the only reason why they do not build is because they do not have the municipal license.

Last year, the company said that it was interested in investing in other hotel projects in the country, as in the main cities of the north: Trujillo (La Libertad) and Chiclayo (Lambayeque), and some of the south.

Eco Inn also has a three-star hotel on the shores of Lake Titicaca and opposite the Island Esteves in Puno, and a recently renewed 22-room hotel at the ancient Mirador de Colca, in the Arequipa region.

Eco Inn is a brand of the US Interamerican Promo Hotels, with operations in Venezuela and Peru, where it combines low cost maintenance material and an energy saving system to run its hotels.

Publication: Andina - English Newswire
Provider: Andina
Date: August 3, 2008

8/3/08

Brazil-based scientists to promote nanotechnology development in Peru

Peruvian scientists living in Brazil are very interested in further promoting the development of nanotechnology and basic sciences in Peru, said physicist Ángel Bustamante of the Universidad Nacional Mayor San Marcos.

The initiative came after the International Scientific Meeting (ECI 2008) "Science and Technology for Sustainable Development", held this week at the Universidad Nacional de Ingeniería in Lima.

Most attendees were Peruvian scientists living in Brazil who expressed their willingness to collaborate with Peruvian public and private universities in technology development.

One of the conclusions reached at this meeting was to develop nanotechnology approaches, a field of applied science and technology whose unifying theme is the control of matter on the molecular level in scales smaller than 1 micrometre, normally 1 to 100 nanometers, and the fabrication of devices within that size range.

The ECI 2008 aimed to promote the exchange of information and experiences between scientists and engineers who take root out of Peru and the scientific Peruvian community; and to stimulate the scientific and technical cooperation of the Peruvian scientists taken root abroad.

Publication: Andina - English Newswire
Provider: Andina
Date: August 3, 2008