Ripley, Falabella and Mall Plaza to open Arequipa mall in December 2010

It has been reported that the new shopping centre being built by the Chilean retail giants Ripley and Falabella and Peruvian shopping centre company Mall Plaza will open in Arequipa in December 2010. Construction of the mall was due to begin in January 2009 but the project was put on hold as a result of the global economic crisis. The mall will occupy an area of 100,000 m2 and will require an investment of USD 40mn (EUR 26.65mn). This is the third shopping mall that the three companies have developed in Peru and they plan to open a fourth one in the Lima district of San Anita in the first half of 2011.

Publication: Esmerk - News monitoring
Provider: Esmerk
November 27, 2009

ProInversión to launch Cuzco airport concession in 2016

Peru's private investment promotion agency ProInversión will launch the process to concession a new airport terminal in Cuzco at end-2016, said ProInversión's executive director Cayetana Aljovín, according to local paper La República.

Authorities have to wait for the results of a meteorological study in the area where the airport will be located before launching the concession. The study is expected to be ready in 2015, Aljovín said.

The new international airport terminal will be called Chinchero.

The facility will replace Cuzco's Alejandro Velasco Astete terminal, in which Peru's transport and communications ministry (MTC) recently announced that it will invest 60mn soles (US$20.8mn) to improve infrastructure.

The resources will finance rehabilitation and improvement works on the secondary runway and the implementation of landing lights to allow the airport to operate at night.

The construction of a new airport terminal is considered the best solution to cope with the growing tourism industry in the area, which houses Incan ruins at Machu Picchu, among other well-known sites.

The current terminal is operated by the country's civil aviation authority Corpac.

Publication: Business News Americas - English News
Provider: Business News Americas
November 27, 2009

Aquaculture production raises 300% over five years

The Peruvian aquaculture production rose 300% over the last five years and totalled shipments of US$103mil in 2008, as informed by the Ministerio de la Produccion. Output leaped from 10.000 tons in 2003 up to 40.000 tons nowadays and has potential to go further, as pointed out by Elsa Galarza, vice minister Pesqueria.

Peru has got a diversity of environments to the installation of aquaculture centres in the coast, mountains and forests, as well as a variety of potential species set to be developed. Amongst the cultivated species figures lobster (US$35.116.000), abanico shells (US$16.934.000), trouts (US$2.470.000), paiche (US$26.396) and tilapia (US$20.137).

The main international destination of the Peruvian products are the US, UE and Asia. According to the Asociacion de Exportadores (Adex), exports totalled US$54.541.000 in the first semester 2009 boosted up specially by the increasingly demand for seafood products.

Publication: SABI - Business News
Provider: South American Business Information
November 23, 2009

Gamarra hopes for 10% sales increase over Christmas 2009 period

Peruvian textiles and tailoring chain Gamarra has announced that it is hoping that its retail sales will increase 10% over the Christmas 2009 period. Sales of Christmas supplies to the wholesale sector begun in September 2009 and the firm has reported optimistic results. A 10% increase in Gamarra's sales would equate to a turnover of around USD 150mn (EUR 100.10mn).

Publication: Esmerk - News monitoring
Provider: Esmerk
November 13, 2009

Number of restaurants increases 47% since 2005

According to a market research survey carried out by Arellano Marketing, the number of restaurants in Peru has increased 47% over the last four years. By the end of 2009 it is expected that there will be 66,000 restaurants on a national level, of which 41,450 will be in Lima.

The survey also revealed that 9% of Peruvians currently like to go out to eat between two or three times per month. Of those questioned, around 40% said they would increase the amount they spend on food if their salaries were increased by 25%. Peruvians spend an average of 35% of their income on food.

Publication: Esmerk - News monitoring
Provider: Esmerk
October 30, 2009