[5][6][7] In 2007, former Peruvian Navy Admiral Juan Ribaudo de la Torre conceived the construction of a substantial commercial port south of the historic Chancay Marina, leading to the establishment of the Chancay Harbor Company (CHP), which would supply the necessary land for the project.

[9][10] In 2019, Volcano Mining and COSCO Shipping announced the execution of a commercial partnership agreement to advance the project.

The involvement of the Chinese enterprise facilitated the reconstruction and expansion of the project, encompassing new design, engineering development, building, and operation of a substantial port complex, with a total expenditure anticipated to reach $3 billion.

[14] Peruvian Foreign Minister Elmer Schialer [es] previously affirmed that the action was taken for "security reasons".

[4] The port of Chancay possesses significant advantages compared to other ports in the South Pacific: a natural draft of 17.8 meters (58.4 feet) and a strategic geographic position on Peru's central coast, in proximity to the port of Callao, Jorge Chávez International Airport, and the Initiative for the Integration of the Regional Infrastructure of South America, as well as the Central Amazonian Interoceanic Corridor, which is designed to accommodate vessels with capacities exceeding 18,000 TEUs.

[13] The Peruvian Congress passed a law granting Cosco exclusive use of the port; which has stirred controversy in Peru regarding Chineses-influence.