DP World and Anglo American Set Sights on Expanding in Peru

Dubai's DP World and Anglo American are considering expanding their operations in Peru. DP World may invest $1 billion to enhance its port infrastructure, aiming to boost exports and employment. Anglo American is also looking to increase its investment in Quellaveco copper project.

Dubai-based DP World and leading global miner Anglo American are gearing up to broaden their presence in Peru, according to statements from the Peruvian government on Wednesday. DP World has signaled potential investments amounting to $1 billion.

This substantial injection of funds is earmarked for the expansion of Peru's port infrastructure, an initiative that aims to elevate the country's status as a regional logistics hub, bolster agro-exports, and provide more employment opportunities. Sultan Ahmed bin Sulayem, CEO of DP World, announced this development following a meeting with Peruvian President Dina Boluarte at the World Economic Forum in Davos, Switzerland.

In parallel, Anglo American has shown interest in amplifying its investment in the Quellaveco copper project, a move communicated during a separate discussion with Boluarte. While immediate comments from DP World's Lima and Dubai offices, as well as Anglo American's spokesperson, were unavailable, the government's announcements underline a growing trend of foreign investment in Peru.

(With inputs from agencies.)