China's $1.3 billion port in Peru, set for inauguration later this year, faces a significant challenge as Peru moves to scrap an exclusivity deal granted to Cosco Shipping. This development could upend the port's business model. The Peruvian National Port Authority cites an "administrative error" for the initial grant of exclusivity to Cosco Shipping in February 2021 and is seeking annulment through judicial means.
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Peru's National Port Authority hopes to fix an "administrative error" that gave 🇨🇳 Cosco Shipping exclusivity over operations at the new Chancay megaport, and has requested the annulment of its own decision made in Feb 2021 — through a judicial process. https://t.co/VHDY7k0MAv https://t.co/OILlpDoT2Z https://t.co/iHZx8EhAzC
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China megaport builder hits back as Peru moves to scrap exclusivity deal https://t.co/dkmPNCmQUw
China’s $1.3 billion port in Peru is facing a surprise challenge that could upend its business model, just months before its inauguration later this year. https://t.co/VoUvn405yB
China’s $1.3 billion port in Peru is facing a surprise challenge that could upend its business model, just months before its inauguration later this year https://t.co/7gLeZNwEtv