Port operator DP World weighs $1 billion investment in Peru

DP World is interested in investing more than $1 billion to expand port infrastructure in Peru, the country’s government said on Wednesday following a meeting between President Dina Boluarte and the UAE port and logistics firm’s top executive.

DP World CEO Sultan Ahmed bin Sulayem told Boluarte the potential investment and expansion of port infrastructure would create jobs and boost agricultural exports, the government said on X.

The company operates the Callao port terminal, the Andean country’s largest port, located on the central coast.

DP World was “currently evaluating opportunities to deploy more investments in its Peruvian operation,” the company’s Peru office said in a statement later, without providing a figure for any possible investment.

Boluarte met Sulayem at the World Economic Forum in Davos, Switzerland.

She also held meetings with several other executives and world leaders on Wednesday, including representatives of miners Anglo American and Glencore.

Both are interested in expanding in Peru, the government said.

Anglo American expressed interested in broadening its investment in the Quellaveco copper project, according to the government. An Anglo American spokesperson in Peru did not immediately respond to a request for comment.

Glencore, meanwhile, operates the massive Antamina copper mine with BHP. A local spokesperson for Glencore did not immediately respond to a request for comment.

(By Marco Aquino and Aida Pelaez-Fernandez; Editing by Kirsten Donovan and Kate Mayberry)