Peru Business News

Thunderbird Hoteles Las Americas sells Hotel Pardo for USD 8.4mn

2010-03-01T16:40:00.000-05:00

International hotel and hospitality services company Thunderbird Resorts has announced that its Peruvian subsidiary, Thunderbird Hoteles Las Americas, closed the sale of its Thunderbird Hotel Pardo (Miraflores, Lima) on 24 February 2010, for a price of USD 8.40mn (EUR 6.21mn). The firm has entered into a one year hotel management agreement with the new owner of the Thunderbird Hotel Pardo, in

Coazucar begins process of acquiring Agroindustrias San Jacinto

2010-02-25T15:15:00.000-05:00

Coazucar, the sugar production holding of Peru's Grupo Gloria conglomerate, has begun a Public Offer of Acquisition (POA) for sugar mill Agroindustrias San Jacinto. The process will be concluded on 22 March 2010. Coazucar has agreed to pay PEN 4.94 (EUR 1.28 USD 1.73) for each of the shares it will acquire in San Jacinto, which will be up to 5.66mn. This will equate to a maximum value of PEN 28mn

Casa Andina to open Classic Chincha Sausal hotel on 5 April 2010

2010-02-22T14:00:00.000-05:00

Peruvian hotel chain Casa Andina (Nexus Group) has announced that the opening date for its Casa Andina Classic Chincha Sausal hotel in Chincha (Ica) will be 5 April 2010. The hotel will boast 50 rooms, as well as wireless Internet access, a swimming pool, restaurant, events rooms and a bar. It will be the twelfth hotel in Casa Andina's 'Classic' chain. Casa Andina boasts 18 hotels in nine tourist

Minera Antamina expansion to be carried out by four companies

2010-02-03T11:49:00.000-05:00

Peruvian copper and zinc mining firm Minera Antamina has reported that the development of its Yanacancha mine in Peru will be carried out by four companies: Camesa, Cosapi, SSK and Tecnicas Metalicas Ingenieros. Antamina will invest USD 1.29bn (EUR 924.41mn) in order to increase its mineral processing capacity by 38% to 130,000 metric tonnes (TM) per year. Publication: Esmerk - News monitoring

Cecovasa Coffee growers open new processing plant in Juliaca, Puno

2010-01-28T18:00:00.000-05:00

Peruvian coffee farmers association Cecovasa has opened a new coffee processing plant in Juliaca, in the Peruvian region of Puno. The plant required an investment of PEN 3.50mn (EUR 864,692.34 USD 1.22mn) and has a production capacity of 200,000 quintals of coffee. It is designed to help coffee growers in the area improve their exportation capacity, reduce their costs and become more efficient

Inversiones La Rioja to built Courtyard hotels in San Isidro and Trujillo

2010-01-18T16:01:00.000-05:00

Peruvian group Inversiones La Rioja has announced that it plans to build two Courtyard hotels in Peru in the next two years, each requiring an investment of approximately USD 20mn (EUR 13.79mn). The hotels will be directed at the corporate sector and will be situated in San Isidro (Lima) and Trujillo (La Libertad). Each hotel will have between 120 and 150 rooms. The Courtyard brand belongs to the

Luxury Properties plans to build second hotel in 2011

2010-01-13T11:19:00.000-05:00

Italian hotel chain Luxury Properties has announced that it is planning to build its second hotel in Peru in 2011. It is likely that the hotel will be located in Lima. Luxury Properties has been operating Casa Cartagena Luxury Properties & Spa hotel in Cusco since 2008. The firm will invest USD 15mn (EUR 10.34mn) in three new hotels in Peru over the next five years. Publication: Esmerk - News

Supermercados Peruanos to build 10 supermarkets in Peru this year

2010-01-11T18:23:00.004-05:00

Peruvian retailer Supermercados Peruanos plans to build 10 supermarkets this year, reports its general manager Norberto Rossi.The supermarkets company plans to start operations in Juliaca (Puno) under the Plaza Vea format, at the new Real Plaza Shopping Mall. They also will open at another Real Plaza locations, in Lima and in provinces as well, livinginperu.com reported. Supermercados Peruanos

Cajamarca to receive 250,000 tourists in 2010

2010-01-07T12:27:00.000-05:00

Cajamarca will receive nearly 250,000 domestic and foreign tourists this year, 40,000 more visitors than in 2009, regional tourism director Julio Palacios Matute said Wednesday. He pointed out that there are good conditions to attract that number of tourists thanks to improvements performed at Cajamarca-Ciudad de Dios highway, and the air access with 3 airlines: LC Busre, LAN Peru and Star Peru

Antamina approves US$1.3bn expansion

2010-01-06T22:27:00.000-05:00

The board of Peruvian copper-zinc producer Minera Antamina has approved a US$1.29bn expansion project, the mine's owners announced Tuesday.Anglo-Australian BHP Billiton (NYSE: BHP), Anglo-Swiss Xstrata (LSE: XTA) and Canada's Teck (TSX: TCK) separately reported the plan to go ahead with a 38% increase in the processing rate to 130,000t/d. The multinationals own 33.75%, 33.75% and 22.5%,

Peruvian sugar cane production likely to post 10% growth next year

2009-12-08T21:49:00.000-05:00

Peruvian sugar cane production would post a ten percent growth next year as a result of the start of the harvest season of almost 17,000 hectares planted in Piura addressed to the ethanol production, estimated Tuesday the bank Scotiabank. However, a moderate or strong Niño phenomenon, is likely to affect production, so the increase would be less. In regard to sugar production, the senior

Ripley, Falabella and Mall Plaza to open Arequipa mall in December 2010

2009-11-28T15:12:00.000-05:00

It has been reported that the new shopping centre being built by the Chilean retail giants Ripley and Falabella and Peruvian shopping centre company Mall Plaza will open in Arequipa in December 2010. Construction of the mall was due to begin in January 2009 but the project was put on hold as a result of the global economic crisis. The mall will occupy an area of 100,000 m2 and will require an

ProInversión to launch Cuzco airport concession in 2016

2009-11-28T15:07:00.001-05:00

Peru's private investment promotion agency ProInversión will launch the process to concession a new airport terminal in Cuzco at end-2016, said ProInversión's executive director Cayetana Aljovín, according to local paper La República.Authorities have to wait for the results of a meteorological study in the area where the airport will be located before launching the concession. The study is

Aquaculture production raises 300% over five years

2009-11-22T23:20:00.000-05:00

The Peruvian aquaculture production rose 300% over the last five years and totalled shipments of US$103mil in 2008, as informed by the Ministerio de la Produccion. Output leaped from 10.000 tons in 2003 up to 40.000 tons nowadays and has potential to go further, as pointed out by Elsa Galarza, vice minister Pesqueria. Peru has got a diversity of environments to the installation of aquaculture

Gamarra hopes for 10% sales increase over Christmas 2009 period

2009-11-14T16:44:00.000-05:00

Peruvian textiles and tailoring chain Gamarra has announced that it is hoping that its retail sales will increase 10% over the Christmas 2009 period. Sales of Christmas supplies to the wholesale sector begun in September 2009 and the firm has reported optimistic results. A 10% increase in Gamarra's sales would equate to a turnover of around USD 150mn (EUR 100.10mn). Publication: Esmerk - News

Number of restaurants increases 47% since 2005

2009-11-01T21:56:00.000-05:00

According to a market research survey carried out by Arellano Marketing, the number of restaurants in Peru has increased 47% over the last four years. By the end of 2009 it is expected that there will be 66,000 restaurants on a national level, of which 41,450 will be in Lima. The survey also revealed that 9% of Peruvians currently like to go out to eat between two or three times per month. Of

Ibermatica's Tecnet wins four contracts in Peru and Argentina

2009-10-28T00:26:00.000-05:00

Tecnet, the subsidiary of the Basque company Ibermatica in America, will implement technological solutions to control a number of activities performed by the Chinese mining company Shougang and the agribusiness company, Chimu, in Peru. The contract signed with the Chinese mining company, Shougang, in Peru consists in developing a new automation and communication system to enhance iron extraction

Minera Koritambo estimates investment of USD 14.5mn up until May 2013

2009-10-28T00:23:00.000-05:00

Peruvian mining firm Minera Koritambo, a subsidiary of Canadian mining company Apoquindo Minerals, has estimated that it will invest USD 14.50mn (EUR 9.66mn) between the end of 2009 and May 2013. The money will be invested in acquisitions and exploration at the Huarman (Ancash), Pachagon (La Libertad) and Zafranal (Arequipa) mining prospects.Publication: Esmerk - News monitoring Provider: Esmerk

Minmetals to begin constructing Galeno mine in 2010

2009-10-24T14:51:00.001-05:00

Chinese mining firm Minmetals has reported that it will begin constructing its Galeno mine in Peru in 2010. The mine will produce copper, gold, silver and molybdenum from 2014. The project to develop the mine will require an investment of USD 1bn (EUR 666mn). A feasibility study has shown that the mine will be capable of producing some 144,000 tonnes of copper concentrate per year during its 20-

Wood exports amount to USD 90.5mn between January and August 2009

2009-10-14T13:49:00.002-05:00

In the first seven months of 2009, China was Peru's largest buyer of wood, importing a total of USD 37.50mn (EUR 25.37mn). The Asian country was followed by Mexico, which imported USD 19.5mn worth of Peruvian wood, according to information provided by Peru's exporters association Adex. Peru's forestry industry's exports totalled USD 90.5mn between January and August 2009, a 41% fall compared to

Sissa and its dummies to invade South America

2009-10-08T18:45:00.001-05:00

The advertising services supplier Sissa, pertaining to the De Azambuja family, started out developing advertising dummies (plastic made), willing to keep growth rate of 8% - 10% per year. It already plans to be opening offices in Chile, Ecuador and Argentina. Jaime de Azambuja, general manager Sissa, states that in the next months the supermarkets, commercial centers, bodegas and cinemas will be

Construction of Huachipa water treatment plant is 5% ahead of schedule

2009-10-08T18:29:00.002-05:00

It has been reported that construction of the Huachipa water treatment plant in Lima is now 32% complete, which is 5% ahead of schedule. Consorcio Huachipa, the company in charge of the project, has invested USD 105mn (EUR 71.33mn) to date, of a total of USD 304mn. It has been reported that the plant will be officially opened in December 2010 and that water treatment will start three months

BCP to buy additional US$5.19mn stake in microlender Edyficar

2009-10-06T21:35:00.001-05:00

Peru's largest bank Banco de Crédito (BCP) has reached an agreement with IFC to buy the latter's 5.4% stake in Peruvian finance company Financiera Edyficar for US$5.19mn, BCP said in a filing with local securities regulator Conasev. Early September BCP announced the acquisition of a 77.2% stake in Edyficar from NGO CARE, and last week the bank announced the purchase of an additional 8.5% stake in

Camposol promotes red globe grapes in Asian market

2009-10-05T22:45:00.001-05:00

Camposol, a leading agroindustrial company in Peru, has participated in the Asia Fruit Logistica to promote their new product: the table grape variety Red Globe. The Red Globe grapes they are currently promoting, are cultivated in the region of Piura (Peru) and the production window fits perfectly with the needs of Asian demand.However, they have already had good experiences with the promotion of

Fourteen Peruvian companies on commercial research in Holland, France

2009-09-29T13:57:00.001-05:00

Peru's Tourism and Export Promotion Board (PromPeru) and 14 small companies from the textile apparel sector will conduct a commercial and technological research in Amsterdam (Holland) and Paris (France). The visit of the Peruvian delegation, which will take place from October 14 to 20, will be focused on the demands and trends of the European market, according to a Supreme Decree published on