TDA approves Callao container terminal project grant

The US Trade & Development Agency (TDA) has approved a US$300,000 grant for Peru's transport ministry to fund a study on the development of a new container terminal at Callao port, the TDA reported. The volume of goods that pass through the port greatly exceeds the designed capacity, and the absence of complete and modern container facilities is hurting the port's performance, the TDA statement read. The agency adds that the government recently drafted laws and regulations related to privatization designed to help bring the port up to international standards and attract external financing sources. The study will re-evaluate a master plan and allow the ministry to validate the usefulness of previous results and move forward with the construction of a new container terminal. According to Peru's national ports company Enapu, Callao needs some US$150mn in investments. The port, which lies adjacent to capital Lima, moved 221,000 containers in 2002. Port officials expect throughput to grow 6% this year.