The Private Investment Promotion Agency (PROINVERSIÓN), under Peru’s Ministry of Economy and Finance (MEF), has signed an agreement with Shougang Hierro Perú SAA to resolve the obstacle preventing the transfer of land for the New Port Terminal of San Juan de Marcona to the concessionaire San Juan Port SA. The agreement marks a key step toward reviving the US$404.8 million project and creating a new logistics link in southern Peru.

Under the agreement, Shougang Hierro Perú has formally and legally undertaken not to exercise or challenge any rights arising from its mining concessions within the project area. The agreement maintains the Ministry of Transport and Communications’ (MTC) ownership of the land while enabling the process to resume, including lifting the suspension of the contractual deadline, transferring the site to the concessionaire, and starting engineering and construction works.

PROINVERSIÓN and San Juan Port SA signed the concession contract on March 31, 2026. However, the contractual term was suspended on April 16 after an obstacle prevented the handover of the project site. The MTC has backed the agreement, citing its role in resolving the issue and allowing the concession to move forward.

The new terminal will benefit 29 provinces and 280 districts in Apurímac, Arequipa, Ayacucho, Ica, and Cusco. It will have two piers, three berths, and specialized equipment to handle bulk cargo, general cargo, and containers. It will also facilitate the logistical operation of mining projects in the south and contribute to job creation during its construction and operation.