Puerto Corío positions itself as a competitor to the Chancay Megaport in Arequipa.

Amid intense competition in the port sector, the Corío Port in Arequipa is positioning itself as a potential rival to the Megaport of Chancay, which is scheduled to open during the APEC Summit in 2024. With an investment exceeding 7 billion dollars and an operational capacity to handle up to 100 million tons of cargo annually, this new project could revolutionize connectivity within Peru's port network, significantly expanding commercial opportunities in the region.

One of the most notable features of Corío Port is its impressive depth of 28 meters, allowing it to accommodate larger vessels, surpassing the capacity of the Megaport of Chancay, which has a depth of 17.9 meters. This difference in bathymetry translates into a considerable operational advantage, as it would facilitate access for ships with a draft of up to 22 meters, potentially increasing the efficiency of cargo loading and unloading. This would not only benefit the port's operations but could also positively impact the local and national economy.

Corío Port, located in the province of Islay, is designed as a multimodal terminal, meaning it will integrate various modes of transportation, such as land, rail, and air infrastructure. This strategic combination has the potential to mobilize up to 50% of the Peruvian economy, thanks to the connections it will establish with other countries in Latin America. This aspect is crucial for the economic development of southern Peru, which has sought greater investment in infrastructure for years.

However, despite its appeal, Corío Port faces challenges that could jeopardize its development. The recent rejection by the National Port Authority (APN) of the proposals from the Corío HUB Consortium has added a layer of uncertainty regarding the project's future. The APN has stated that for it to consider a change in its evaluation criteria, the consortium must present a tangible fact that has not been previously assessed, leaving investors in a complicated position.

The consortium has a period of 15 business days to file an appeal, which could be a decisive milestone for the future of Corío Port. Meanwhile, the lack of interest from American capital in investing in the project has been another significant obstacle to overcome. This factor is concerning, as the involvement of international investors is crucial for the realization of any large-scale project.

On the other hand, the inauguration of the Megaport of Chancay, where the President of China, Xi Jinping, is expected to be present on November 14, adds pressure to Corío Port. The participation of such a significant figure will not only attract international attention to Chancay but could also divert interest from potential investors away from the Arequipa project. This context highlights the need for Corío Port to not only meet its deadlines but also address its challenges with a clear and effective strategy.

The competition between these two ports is not just a matter of infrastructure; it also has significant implications for the Peruvian economy as a whole. The capacity of the ports to handle large volumes of cargo, their connectivity with international markets, and their operational efficiency are factors that will determine not only their individual success but also the economic growth of the country. In this sense, Corío Port and the Megaport of Chancay are engaged in a game of chess where every move counts.

Local and national authorities must carefully evaluate the benefits and risks associated with both projects. Port infrastructure is a vital component of the modern economy, and the development of competitive ports can mean the difference between stagnation and growth in trade and investment. In a world where logistics and efficiency are key, Peru's ability to attract investment and develop port infrastructure will be crucial for its economic future.

As events unfold around Corío Port and the Megaport of Chancay, the public and business sectors will be closely watching for announcements and decisions that could affect the trajectory of both projects. The balance between investment, planning, and effective implementation will be decisive in the coming months, and the battle to become the leading port in South America is far from being settled.