Peru is considering the privatisation or the sale of concessions for the hydro plant Mantaro in 2003.

Analysts have valued Mantaro at US$1.5B and Peru has said the plant would require an investment of US$300M for repairs.

Meanwhile three foreign groups have been approved to compete for concession rights to the Olmos hydroelectric project in the Lambayeque region of northern Peru. Investment in the project has been estimated at US$700 million.

The concession for Olmos will be for 40 years.