China builds deep water port in Peru that cuts travel time to Asia
LIMA, Peru: To accelerate trade with South America, China has built a deep-water mega port in Chancat, Peru, worth US$3.5 billion, scheduled to start operations late in 2024.
The port will provide China with a direct gateway to the region and its valuable resources, including soy, corn, and copper.
Majority-owned by Chinese state-owned company Cosco Shipping, the port will be the first controlled by China i