Chinese Companies May Invest $10 Billion in Peru, Munoz Says

Chinese companies including Aluminum Corp. of China Ltd. may invest $10 billion in Peru during the next five years, Andres Munoz, commercial banking vice president at Banco Internacional del Peru SA, said today.

Chinese investors are studying projects in industries including mining, energy, telecommunications and transport, Munoz told reporters in Lima. The number of Chinese firms investing in Peru may double from about 23 currently after a free-trade agreement between the two countries took effect earlier this year, he said.

Munoz was speaking at the inauguration of Bank of China Ltd.’s trading and investment desk at the Lima-based bank.