peru: investment opportunities infrastructure and public...
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1
Peru: Investment Opportunities Infrastructure and public services
2017- 2018
April 19th
Carlos Ganoza
Chief of Advisors
Ministry of Economy and Finance
2
PERU’S STRONG MACROECONOMIC CREDENTIALS ALLOW FOR A GROWTH STRATEGY BASED ON INFRASTRUCTURE INVESTMENT
Source: Central Reserve Bank of Peru (BCRP), International Monetary Fund (IMF)
• Forecast 2017
• Estimated figures of BCRP (Inflation report as of March 2017), IMF (World Economic Outlook Database – October 2016)
Average GDP - 2000 - 2016(Average change in constant prices in dollars)
2.4 2.5 2.5
3.84.0
5.1
Argentina Mexico Brazil Chile Colombia Peru
CPI – Latin America 2006- 2016*(Annual Average Variation %)
2.93.2
3.8 4.0
5.8
Peru Chile Mexico Colombia Brazil
Public Debt– Latin America 2017*(% of GDP)
23.3 24,5 28.2
47.0 50.756.1
82.4
Chile Peru Venezuela Colombia Argentina Mexico Brazil
Real GDP – Forecasts for Latin America 2017(Annual Average Variation %)
-4.5
0.5
2.0
2.3
2.7
2.7
3,8
Venezuela
Brazil
Chile
Mexico
Colombia
Argentina
Peru
3
ENHANCING THE LEGAL AND INSTITUTIONAL FRAMEWORK FOR PPP’s
Legislative Decree No. 1251 and its regulation:
Board with three independent (i.e., non public officials) members, to avoid political
pressure on project selection or project design.
Clearer definition of roles between Ministry of Economy and Finance and ProInversión.
Restrictions to the renegotiation of PPP contracts in the three first years.
Better contract design, with more detailed studies.
Measures to counter “aggressive bids”.
Anticorruption clause in every concession contract.
National Infrastructure Plan.
4
STRENGHTENING PROINVERSION’s GOVERNANCE AND PERFORMANCE
Organizational reforms within ProInversión:
Board tasks limited to essential issues. More long-term focused.
Clearer definition of roles between Project Managers and Investment Committee.
Checks and balances, no duplication or roles. Independent review and quality control
for Investment Committee.
Renovation of human capital.
Efficiency and quality of PPP process. Design and adjudication on 18-24 months (from
36-48 currently).
Anti-corruption and transparency Unit.
5
The PPP Portfolio 2017-2018 is the biggest in the last 15 years: USD14.6BN
185
1.342744
282
8951.415 1.624 1.391
701
3.218
7.183
100
1.661
4.060
10.350
4.910
1
54
4
9
8
10
7
5
910
3
1
16 16
0
5
10
15
20
25
0
2.00 0
4.00 0
6.00 0
8.00 0
10.0 00
12.0 00
14.0 00
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Montos de inversión en USD millones (sin IGV)
Número de procesos APP
20
4.288
15*
10.295
Estimated investment in USD millions (w/o sales tax)
Number of PPP Proyects
* Does not include the ammount of Gas Pipeline
PPP projects awarded by year
6
Sectors to invest
Transportation 09 9 638 M
Mining 03 2 016 M
Energy & Hydrocarbons 10 1 140 M
Water & Sanitation 03 606 M
Real Estate 02 511 M
Health 04 459 M
Telecommunications 05 220 M
36 Projects USD 14.6 Billion (estimated)
7
Transportation
ProjectEstimated Investment
(USD MM)2017 2018
Longitudinal de la Sierra Road – section 4 464
Amazon Waterway 95
Huancayo – Huancavelica Railroad 204
Modernization and Development of the MultipurposeSalaverry Port Terminal (PT)
215
Lima-Callao Metro Line 3 6,600
South Pan-American Highway“ road: Ica- Dv. Quilca Stretch
To be defined
Sierra Road Concession To be defined
Peripheral Ring Road 2,047
Management of the in-flight radio navigation aids system
13
2019: North Highway Tumbes-Piura, Lima Callao Metro Line 4 and Tarma Highway
8
Mining
ProjectEstimated Investment
(USD MM)2017 2018
Michiquillay Mining Project 2,016
Jalaoca Mining Project To be defined
Colca Mining Project To be defined
9
Energy & Hydrocarbons
ProjectEstimated Investment
(USD MM)2017 2018
138 Kv Aguaytía-Pucallpa Transmission Line 37
220 kV Tintaya – Azangaro Transmission Line 59
“500 kV Mantaro - Nueva Yanango -Carapongo Connectionand associated sub stations” and "500 kV Nueva Yanango -Nueva Huanuco connection and associated sub stations"
568
Repowering up to 1000 MVA of LT 500 kV Carabayllo-Chimbote-Trujillo and Variable Reactive Compensator+400/-150 MVAR in 500 kV Northern Trujillo StructuralSystem
65
Arequipa city public lighting modernization 26
New 220 kV Carhuaquero Power Substation 10
New power substation: La Planicie 500/200 kv To be defined
Variable Reactive Compensator +400/-100 MVAR in La Planicie Structural System
25
Mass use of Natural Gas for Center and Southern Peru 350
South Gas Pipeline To be defined
10
Water and Sanitation
ProjectEstimated Investment
(USD MM)2017 2018
Wastewater treatment system of the Lake Titicaca Basin
304
Improvement and extension of the Sewerage and Wastewater Treatment System at the Locations of Huancayo, el Tambo and Chilca
90
Wastewater treatment system for San Bartolo 212
2019: Headworks and Conduction for the Drinking Water Supply in Lima
11
Real Estate
ProjectEstimated Investment
(USD MM)2017 2018
Auction of properties owned by Fondo Consolidado de Reservas Previsionales - FCR
10.5
Ancón Industrial Park 500
2019: Lima Convention Center
12
Health
ProjectEstimated Investment
(USD MM)2017 2018
Three new High-Complexity Hospital Centers (ESSALUD) 424
Management of solid waste from Lima city’ health facilities 35
2019: Five hospitals in Lima and provinces
13
Telecommunications
ProjectEstimated Investment
(USD MM)2017 2018
Broadband Installation for Amazonas, Ica and Lima 142
Broadband Installation for Junin and Puno 78
2019: Operation and Maintenance of the Centre South Network and the North Network
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