Peru relaunches privatization without Petroperu assets

Peruvian President Alberto Fujimori announced on Aug. 17 the relaunching of Peru's privatization process, which involves investment commitments of up to $3 billion in the next 3 years. Fujimori recently appointed a new board of directors to Copri, the government�s privatization commission (OGJ Online, Aug. 15, 2000).


LIMA�Peruvian President Alberto Fujimori announced on Aug. 17 the relaunching of Peru's privatization process, which involves investment commitments of up to $3 billion in the next 3 years. Fujimori recently appointed a new board of directors to Copri, the government�s privatization commission (OGJ Online, Aug. 15, 2000).

The forecast investments include $1.2 billion to develop the Camisea natural gas project.

The president said that there still was not a firm date for the tender of Camisea's gas and liquids transport and distribution contract. Energy and Mines Minister Jorge Chamot said that a firm date for the tender would probably be decided upon within the next 2 weeks.

The Camisea gas fields, discovered by Royal Dutch/Shell Group in the mid-1980s, reverted to the state after a consortium of Shell and Mobil Exploration & Producing Peru failed to reach agreement with the government on developing the fields.

Fujimori said the state also will sell its remaining shares in Relapasa, formerly the La Pampilla refinery, operated by a consortium headed by Spain's Repsol-YPF SA. He did not mention Petroperu's Talara, Conchan, or Iquitos refineries, nor the North Peruvian Pipeline, which Petroperu is still operating.

For the first time, however, the president said that Electroperu's Mantaro hydroelectric complex could be privatized�if somebody offered a good price.

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