China’s president unveils a megaport in Peru, but locals say they’re being left out

Associated Press

CHANCAY, Peru (AP) — A remote fishing town on the edge of Peru’s coastal desert is the site for a $1.3 billion megaport majority-owned by the Chinese shipping giant Cosco. Chinese President Xi Jinping inaugurated the port Thursday during the Asia-Pacific Economic Cooperation forum in Peru. The development is expected to encompass 15 quays and a large industrial park drawing more than $3.5 billion in investment over a decade. But it has met a skeptical response from impoverished villagers, who say it is depriving them of fishing waters and bringing no economic benefit to locals. Fishermen returning to port with smaller catches complain that they have already lost out.