Peru's Superintendency of the Securities Market has broken ground on a new institutional headquarters, marking the start of a PEN 100.77 million infrastructure project that the Ministry of Economy and Finance described as the first in the sector to be developed under the Obras por Impuestos, or works for taxes, mechanism. The new building is intended to strengthen the authority's capacity to provide securities market promotion, supervision and regulation services. The project provides for a modern building with 15,776.50 square meters of covered area across seven floors and four basements. At the foundation stone ceremony, officials highlighted the project as an example of using the public-private investment mechanism to channel strategic infrastructure spending. The private consortium Grupo Flesan is responsible for developing the project.