Peru: Construction to display higher dynamism in 2015's second half

(Andina) The construction sector will display more dynamism in the second half of the year due to public investment projects executed by subnational governments, as well as building the Lima Metro Line 2, the Ministry of Housing, Construction and Sanitation affirmed.

The Head of this portfolio Milton von Hesse said the construction of Lima Metro Line 2 will boost growth in the sector "by over 5%" during the current year.

Megaproject

The infrastructure project is the largest in the country’s history, the Minister highlighted.

"This work will entail subcontracting labor force, purchasing more cement and steel, as well as a higher demand for [...], architects and workers, which will allow our sector to be moved forward," he told.

It should be noted the Nuevo Metro de Lima Consortium placed a bond worth US$1.155 billion over a 19 year-period with a 5.875% yield. This represents the highest non-governmental placement in the country's history.

The collected funds will be directed at financing the construction of Lima Metro Line 2; a project co-financed by the Peruvian State.