Maersk Wins Contract For $1.1 Billion Pier at Top Peru Port

A.P. Moeller-Maersk A/S, the world’s largest container shipping line, won a contract to build and operate a $1.1 billion pier at Peru’s largest port, the Andean nation’s government said.

Copenhagen-based Maersk’s APM Terminals unit beat out Hong Kong-based Hutchison Whampoa Ltd. by offering a bigger discount for services at the Muelle Norte pier at the Callao port, state investment promotion agency Proinversion said today at a ceremony in Lima. The concession, which comes before April 10 presidential elections, will reduce costs at Callao, which handles 45 percent of the country’s cargo.