Peru invested US$232mn in transportation infrastructure in Q1

Peruvian investments in transportation infrastructure started 2024 well, replicating the dynamism seen in the first months of 2023. 

In the first quarter of the year, investments in projects supervised by transportation regulator Ositrán amounted to US$232mn compared to US$230mn in 1Q23, the entity said in a report. 

Unlike 1Q23, the dynamism in 1Q24 came from a higher disbursement for line No. 2 of the Lima metro and the airport sector. In 1Q23, the port sector was the one that led investments.

Category	Investments in 1Q23 (US$ Millions)	Investments in 1Q24 (US$ Millions)
Airports	15.1	84.7
Roads and highways	19.7	13.3
Railways	73.2	107.6
Ports	122.2	26.1
Total investment	230.2	231.7

Source: Ositran / Preparation: BNamericas

According to Ositran, investment in line 2 – a US$5.35bn project – was US$108mn in 1Q24 and it is the project that leads investments to date. According to the concessionaire, this year it expects to invest US$487mn in the project and to end 2024 with 62% of the total spent, up from the current 54.6%.

AIRPORTS

Unlike previous years, investments in the airport sector started strongly in 2024. The US$84.7mn invested in 1Q24 not only far exceeds the US$15mn in 1Q23 but is already more than the figure for all 2023 of US$55mn and US$33mn in 2022.

According to Ositrán, investments in the new Jorge Chávez international airport in Lima totaled US$49mn in 1Q24. The US$2bn project is more than 77% complete and is due for completion on December 18 this year.

In the first group of 12 regional airports –   with works being carried out by concessionaire Aeropuertos del Perú (AdP) – investments in 1Q24 amounted to US$34.5mn compared to US$23.7mn in all 2023. According to AdP, this year they will invest US$108mn in improvements, of which some US$45.3min will go to preventive maintenance, according to Ositrán.

In the case of the second group of airports – in the hands of Aeropuertos Andinos del Perú (AAP) – this year the concessionaire expects to invest more than 29.5mn soles (US$7.94mn) in civil works and equipment. In 1Q24, a little more than US$1mn was invested.

ROADS AND PORTS

Although large investments have not been deployed in the roads sector compared to other categories, the Pativilca-Salaverry section of road network No. 4 – which covers a 356km stretch on the coast of Áncash and La Libertad regions – saw investments of US$11.4mn in Q1, similar to what was spent in 1Q23.

And even though only US$610,126 was invested in the Paita-Yurimaguas section of the IRRSA Norte highway in the first quarter, concessionaire executives indicated that in 2024 they will invest a total of US$18.3mn. In the case of the Inambari-Azángaro section of the IRRSA Sur highway, the concessionaire Intersur told the regulatory entity that they will invest US$21mn this year.

Finally, of the US$26mn invested in port projects in Q1, US$22.7mn was made by DP World for the expansion of the Callao south dock (Bicentenario dock). According to local media, the almost US$350mn expansion is close to completion and DP World is preparing additional investments of US$41mn in machinery and equipment to increase its container handling capacity.