Work began on the US$280 million Olmos Irrigation Project eight years ago to transport water through the Andes by tunnel to be used for agricultural production. Now the project’s first crops of sugarcane, avocados, and blueberries have been planted and the Brazilian developers of the project are seeking to expand their scope of global agricultural investors. The project was supported by the Peruvian government in a public/private initiative through the sale of 38,000 hectares of formerly fallow land. Currently 70% of the project’s investors are Peruvian companies with the largest being Grupo Gloria with 15,000 hectares of sugarcane. Other large Peruvian investors are Agroindustrial Beta, Danper Trujillo, and Grupo Arato. U.S. investors include California’s Mission Produce and an unnamed U.S. investment firm with 4,000 hectares dedicated to grapes, avocados, and other crops. The developers of the Olmos project are looking to enrich it through crop diversification stating that mangoes, lemons, and pomegranates all have potential in the region, and are seeking investors from, but not limited to, Chile, Argentina, South Africa, New Zealand, Australia, the U.S., and Colombia.
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