Korea Expressway Corp. announced on April 1 that it has signed a business agreement with Korea Rail Network Authority (KR) on bilateral cooperation for the overseas investment development project, called the Public Private Partnership (PPP).
Through this, the two organizations plan to support domestic companies entering the overseas market with large infrastructure projects mixed with roads and railways, and to boost overseas business orders.
The first cooperative project is the "King Hamad-Causeway Road-Rail Complex PPP Project," which connects Saudi Arabia and Bahrain. With the support of the Ministry of Land, Infrastructure and Transport, it is currently conducting business feasibility studies with professional consulting firms in Korea.
As the two organizations, Korea's leading infrastructure corporations, have preemptively laid the foundation for 'Team Korea's public sector cooperation, it is expected to secure competitive edge in road-rail combined projects that will be ordered from Indonesia and other countries.
Meanwhile, Korea Highway Corp. has been continuously pushing for overseas PPP projects and operation and maintenance projects based on its capacity to operate and maintain highways.
“We will do our best to create a base for global orders based on the experience of building and maintaining operations of the two organizations, and to help local companies make inroads into overseas markets," said an official at Korea Highway Corp.
