Over 30 Chinese companies operate in Peru

The president of state-owned Aluminum Corp of China (Chinalco), Xiao Yaqing, said Thursday that more than 30 Chinese companies are currently operating in Peru with total cumulative investment of US$ 800 million.

"Chinese companies have stepped up their internationalization and cooperation with their Peruvian counterparts, obtaining very positive results in recent years," Chinalco’s`president Xiao Yaqing said Thursday.

He said that Chinese companies want to continue investing in Peru and he considered that it is very important that the Peruvian government protects these capitals generating a favorable environment.

On behalf of the Chinese companies, Yaquing suggested investors from both countries to join forces to compete and take advantage of development opportunities that will arise in the future.

He said that Chinese capital firms always insist on promoting principles of mutual benefit, equality, complementarity and cooperation, and they are also respectful of international norms and market economy rules, the Peruvian laws and to maintain good relations with local communities.

In this regard, he stated that Chinalco will seek a harmonious development of the Toromocho project with local communities, in addition to boosting employment and socio-economic development of residents.

The Toromocho copper project is located in the district of Morococha, province of Yauli (Junín), where Chinalco plans to invest more than 2.1 billion dollars generating 2,500 direct and 7,500 indirect jobs.