Chinese firms plan huge investments in Peru

Chinese companies are expected to invest up to $10 billion in Peru in sectors including energy and mines, telecommunications, construction and financing over the next three years, an official said.

Jia Guide, China's ambassador to Peru, said even though China is Peru's top trade partner and imports most of the minerals the South American country produces, Chinese companies are keen on investing in the country's other sectors.

His comments came during a signing ceremony with Peru's president last week, when Aluminum Corp of China started work on the $1.3 billion expansion of its Toromocho copper mine in central Peru.