Peru is the "Land of Opportunity", particularly for potential investment in mining, natural gas, and power generation, says the nation's Energy and Mining Ministry.
The potential for mining and energy investment in Peru between 2011 and 2020 could surpass US$73.2 billion, Peru's Minister of Energy and Mines said this week.
Minister Jorge Merino Tafur told an audience of entrepreneurs from South America and the Arab countries that the mining and energy sectors have grown significantly in the past decade, growing from US$1.865 billion in 2001 to US$8.5 billion in 2011.
"We have potential planned mining investments up to US$53 billion, of which we are today developing over US$28 billion" in gold and copper projects, he noted.
The minister stressed the potential of Peru as an energy hub including the development of nearly 70,000 megawatts in hydropower capacity, including projects that will generate up to 30,000 MW of power in the medium term.
To this Peru can also add up to 22,450 MW of wind power generation, as well as 3,000 MW of solar energy, Merino Tafur observed.
The minister asked the Arab entrepreneurs to also consider other investment opportunities, such as construction of new pipelines, the development of a separation of ethane in natural gas project in Peru, a petrochemical project in the south, which would complement the proposed South Andean natural gas pipeline, as well other energy-related projects.
Merino Tafer observed that the country's proven natural gas resources total 12.7 Tcf [trillion cubic feet], while proven oil reserves so far contain 3 billion barrels.
