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MEF intensifies monitoring of the execution of private investment projects for more than US$ 3,000 million

At the end of the first quarter of 2024, the Specialized Investment Monitoring Team (EESI) of the MEF made progress that will contribute, at the end of 2024, to the execution of more than US$ 1.4 billion of investments in mining and more US$ 1,700 million in infrastructure.

The Ministry of Economy and Finance (MEF), through the Specialized Investment Monitoring Team (EESI), has been intensifying the monitoring of investment projects that have a significant impact on the economy in order to accelerate the recovery of growth. economic.

Thus, in the first months of 2024, EESI monitoring has made progress that will contribute to achieving, at the end of the year, an investment of more than US$ 1,400 million in mining and more than US$ 1,700 million in infrastructure (transport and electricity)1.

It should be remembered that the EESI is made up of a specialized technical team that is in charge of monitoring the execution plans of public, private and public-private investment projects, assisting in the identification of problems and obstacles that affect their execution, and in coordination with the competent authorities, proposes alternative solutions.

In this way, in the first months of the year, in the mining sector there have been:

  • The approval of the authorization for Yumpag’s exploitation activities, which allows the investment of this project and Uchuchcaccua – of which Yumpag is a satellite mine – to be executed.
  • The approval of the Modification of the Detailed Environmental Impact Study of Extension Antamina, which extends the useful life by 8 years of one of the main copper producing mines in the country.
  • The approval of operating authorizations for the Quellaveco and Mina Justa projects, which make it possible for them to achieve their respective 2024 production goals, both being important copper producers that came into operation in recent years.
  • The conformity of the Sustaining Technical Report (ITS) of Yauricocha Accumulation, which will allow the deepening of underground work and the implementation of drilling platforms to evaluate possible mineral reserves.

By 2024, in the mining sector, the advancement and execution of investments in mining projects and units such as Las Bambas (estimated investment 2024: US$ 519 million), Antamina Extension (US$ 222 million), Quellaveco (US $280 million), Zafranal (US$98 million), Raura MU (US$98 million), Mina Justa (US$89 million), Yumpag (US$39 million), Pucamarca MU (US$23 million), Yauricocha Accumulation (US$ 18 million), among others.

On the other hand, in these first months, EESI coordination in monitoring in the transportation sector contributed to:

  • The delivery of the areas of Station 5 and Ventilation Well 06 of Branch 4 of Line 2 of the Lima and Callao Metro,
  • The approval of the Socio-Environmental Technical Sheet for the temporary access bridge to the Jorge Chávez International Airport Expansion, which allows the implementation of the aforementioned bridge.
  • The approval of the Modification of the Detailed Environmental Study of the Salaverry Multipurpose Port Terminal, the main milestone so that the owner can present the technical file, and other procedures to execute new investments.

For this year 2024, in the transportation sector, progress is planned for emblematic projects such as the Chancay Port Terminal (estimated investment 2024: US$ 770 million), Line 2 of the Lima and Callao Metro (US$ 488 million ), the Expansion of the Jorge Chávez International Airport (US$ 498 million), Salaverry Port Terminal (US$ 22 million), among others.

In the case of the electricity sector, until March of this year, progress was made, among others, such as the ITS compliance of the Expansion project of the Montalvo 500/220 kV and Poroma 500/220 kV SEs (US$ 20 million).

Monitoring results in 2023

The application of the EESI monitoring methodology has allowed, during the year 2023, the unblocking of various procedures or procedures that affected the schedules of a group of mining and infrastructure projects that, given their size, together achieved execution. of US$ 2,354 million2.

Among the main results of the mining sector (investment executed 2023: US$ 959 million), the environmental certifications obtained for the advancement of the Zafranal (US$ 20 million), Inmaculada Optimization (US$ 86 million), Yumpag (US$ 44 million), Ucchuchacua Mining Unit (US$ 20 million), Retamas (US$ 3 million); as well as various authorizations that allow greater investments, mainly in the Toromocho (US$ 130 million), Las Bambas (US$ 336 million), Pucamarca (US$ 2 million) projects, among others.

In the transportation sector, the investment executed in 2023 reached US$ 1,213 million, during which time various authorizations were approved (track interference, work execution authorizations) and engineering studies for the Line 2 project of the Lima and Callao Metro (US$ 315 million), the signing of the Addendum for the execution of the third stage of the Paita Port Terminal (US$ 23 million), the approval of authorizations and studies in the Chancay Port Terminal (US$ 171 million) and South Pier Expansion projects (US$ 130 million), the approval of environmental management instruments for the Red Vial 4 projects (US$ 43 million), North Pier Expansion (US$ 23 million) and Jorge Chávez International Airport Expansion (US$ 487 million) ; among others.

Likewise, in the electricity sector (executed investment: US$ 182 million), the Definitive Electricity Concessions were obtained that allowed the start of commercial operation of the New Electric Substation (SET) Valle del Chira (US$ 9 million) and 500 kV Mantaro-Nueva Yanango-Carapongo Link (US$ 26 million). Additionally, pronouncements were issued that make it possible to advance the projects Enlace 220 kV Pariñas – Nueva Tumbes (US$ 32 million), Enlace 220 kV Tingo María – Aguaytía (US$ 24 million) and Enlace 500 kV La Niña – Piura, Miguel Grau (US$89 million); among others.

The MEF reiterates its commitment to promoting private and public-private investment in the different sectors of the national economy, as a mechanism to accelerate the recovery of economic growth. The monitoring of investment projects to make it possible to comply with the execution of their investment schedules is an activity prioritized by the current management as an effective tool for said objective.

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– 2024-04-25 06:47:56

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