Cosco Shipping Evaluating Impact of Peru’s Lawsuit on Megaport Development

China’s Cosco Shipping is evaluating the impact of a move by Peru’s government to annual the exclusivity it holds over operations at the new Chancay megaport.

Peru awarded exclusivity to Cosco Shipping to operate the port in 2021, but last week said it was an “administrative error” and requested a judicial process to annul the decision. The Chinese company said in a statement late on Monday the push affects investment security in the Andean nation.

(Reuters – Reporting by Marco Aquino; Writing by Valentine Hilaire; Editing by Alexander Villegas)