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(Adds comment from Moody's analyst)
LIMA, Feb 21 (Reuters) - Peru's finance ministry is considering selling bonds to help state water company Sedapal build up to 10 billion soles ($3 billion) in infrastructure projects through 2021, state news agency Andina reported on Tuesday.
Andina did not mention the timing, location or currency denomination of the potential offering.
The finance ministry did not immediately respond to requests for comment.
The government said earlier this month that it was also evaluating a bond sale to help pay for an expansion at state-owned energy company Petroperu's refinery.
Last year, Peru issued a 10.25 billion sol bond in a debt swap transaction that the government described as one of the biggest global issuances denominated in an emerging market currency.
Peru tends to pre-fund its financing needs and so mainly sells bonds when opportunities arise to lock in better rates, said Moody's sovereign risk senior analyst Jaime Reusche.
"We should expect to see one, maybe two, relatively large issuances throughout the year if conditions are appropriate, either in domestic or foreign markets, mostly with a focus on liability management," Reusche said.
Reporting by Mitra Taj; Editing by Richard Chang, Bernard Orr