Peru is on the hunt for $24 billion in irrigation investments, primarily targeting private investors ready to engage in public-private partnerships. The nation has emerged as a formidable force in agribusiness recently, achieving the status of the world’s leading exporter of blueberries and table grapes, alongside being a significant player in the avocado market. With aspirations to expand further, Peruvian officials are now exploring new opportunities in cotton and sugar cane cultivation.

An Ambitious Timeline

The urgency behind these initiatives is clear. President Dina Boluarte, facing widespread unpopularity, is racing against time to solidify her legacy before her term ends in July of next year. During a recent announcement by her ministers of agriculture and finance, it was revealed that the government aims to award contracts for 22 irrigation projects within this tight timeframe.

Challenges Ahead

Agriculture Minister Angel Manero noted that even after contracts are awarded, it could take up to seven years for the various projects to be completed. Historically, ambitious infrastructure endeavors in Peru have faced significant delays, sometimes extending into decades.

Key Projects in the Pipeline

Among the flagship projects are:

• Maranon River Diversion: This initiative involves redirecting part of the Maranon River, which traditionally flows east towards the Amazon, to irrigate new agricultural lands in the west. This project alone requires an estimated $7 billion investment.

• Dams and Hydroelectric Plant: A proposed $4 billion investment plans to construct new dams and a hydroelectric facility in Southern Peru, aimed at bolstering water supply and energy resources.

Future Prospects

If successful, these irrigation projects could significantly enhance Peru’s agricultural output and solidify its position in the global agribusiness market. The government’s focus on attracting private investment reflects a strategic approach to modernizing its agriculture sector, ultimately benefiting farmers and consumers alike.

As Peru embarks on this journey, the world will be watching closely to see if these ambitious plans come to fruition, potentially reshaping the agricultural landscape of the nation for years to come.