COSAPI originated fifty years ago as a partnership sealed with a handshake by our founders, engineers Walter Piazza Tangüis and José Valdez Calle. At the beginning (1960), the Piazza-Valdez partnership concentrated on developing power transmission consulting services and projects, followed by the building of 23 kV power transmission lines. The company was then known as "PIVASA Ingenieros Contratistas."
In 1963, a consortium (Consorcio SADE-PIVASA) was created, which successfully completed a major 220 kV transmission line from the Huinco Hydroelectric Plant to Lima. This new partnership gave rise to our current name, COSAPI.
Over the following years, COSAPI continued to grow and began developing electromechanical projects in 1967 and civil infrastructure projects in 1978. In the 80s, the company completed its first international projects, creating GBC in Venezuela (1987) and COSAPI Chile (1989).
During that same decade COSAPI expanded into the Information Technology business. The company COSAPI DATA was established in 1984 and is currently the leading IT solution integration company in Peru.
The 90s were a difficult time for Peruvian companies, with sweeping changes on all fronts. COSAPI had to reinvent itself and entered a new high-growth cycle until 1998, when a major contract between Shell and Bechtel-Cosapi for the development of the Camisea gas field was cancelled.
In the 90s, Cosapi's close association with Bechtel allowed it to enter into its first major mining project in Peru, at Toquepala. Other projects completed jointly with Bechtel included Antamina and the expansion of Jorge Chávez International Airport. These two major projects and the support provided by COSAPI DATA and our international operations, allowed the company to successfully overcome a financial crisis in 2003.
As it reorganized that year, COSAPI obtained the backing of its creditors, who put their trust in the company's reputation and that of its founding partners. Through their efforts and loyalty, COSAPI's employees also helped the company pull through a challenging time.
The past seven years have been characterized by the dynamic growth of the Peruvian economy and COSAPI. Over our 50 years of existence, our country had never had such a consistent economic expansion period, with healthy, sustained development. COSAPI has become stronger and is now able to service the most demanding clients.
We had 40% profit growth in 2009 and a rock-solid balance sheet. COSAPI is prepared for a new cycle of intense growth, and has been recruiting talented people in Engineering and Construction as well as in IT services. COSAPI's history has just begun.