A project presented by mining firm Minera de los Andes y el Pacífico (Mapsa) to build a specialized mineral terminal in San Juan de Marcona port in Peru's Ica region has been approved by the national port authority (APN), government news agency Andina reported.
The total US$2.2bn budget also includes the construction of a rail line from Andahuaylas in Apurímac region to the port where the mining firm can export minerals. Mapsa has around 330,000ha of iron ore properties in Apurímac.
The company will spend US$450mn to improve the port area, APN president Frank Boyle said. While investments will start with the construction of a mineral dock, the port will also need a bulk and container handling terminal in the future, according to Boyle.
Last week Mapsa answered observations on the rail line made by private investment promotion agency ProInversión.
Once the port and rail projects are approved, the initiative can be declared of public interest and an international tender will be launched. If no other companies present offers, Mapsa will carry out the project.
APN focuses exclusively on the port investment while ProInversión is in charge of overseeing the rail investment.
Mapsa submitted the project as a private initiative earlier this year.
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