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Peru to invest $10 billion in metro lines

Staff writer |
Peru will invest nearly $10bn in the construction of Lima metro lines No. 3 and 4, private investment promotion agency ProInversión forecast at BNamericas 5th South America Infrastructure Summit.

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ProInversión recently awarded a pre-investment studies contract for line No. 3 and in coming months will launch pre-investment and feasibility studies for line No. 4.

Line 3 will connect avenues Universitaria (Comas district) and Alfredo Benavides (Miraflores) while line 4 will link avenues Elmer Faucett (Callao) and Javier Prado (San Borja).

"These are projects that, given similar characteristics to line No. 2, more than 30km long and all built underground, should need nearly $5bn each," Yaco Rosas, head of investment promotion at ProInversión, said at the summit in Bogotá.

Peru has just begun construction of Lima's No. 2 subway line, with a $6.5bn budget. ProInversión has said there was interest from foreign companies in the new lines.

Rosas said pre-investment studies for lines 3 and 4 should be ready in 2015 and that he expects tenders will be called soon after that. "It should be a fast process," Rosas said, adding the project would be awarded before President Ollanta Humala leaves office in mid-2016.

Earlier this year, Lima's first metro line began fully operating. When completed, the system will have six lines and over 130km of tunnels.

Lima is not alone in building subway lines in Latin America. Quito is building its first metro line, while Bogotá plans to tender its first underground system in 2015.

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