China has made a $1.3 billion bet that a new port in Peru will boost access to South America’s agricultural bounty. Cashing in on the investment may be harder than expected.

The first phase of China's Chancay port project, located around 70 kilometres north of Lima, is due to officially open on Thursday.

The port opening in Chancay underscores China’s growing clout in a region that once looked primarily to the United States for economic opportunity.