S. Korean cooperation agreement on overseas railway-road PPP projects
Korea Rail Network Authority has announced the signature of a bilateral cooperation agreement with the Korea Expressway Corporation on March 31, 2020. Under the agreement, both companies will jointly develop overseas railway-road projects and cooperate in large-scale public-private partnership (PPP) projects.
The cooperation agreement will support Korean companies that want to participate in overseas PPP markets. Both organizations will help the companies to win tenders by utilizing combined experience, capabilities, and R&D in the transport sectors.
The agreement lays the foundation of cooperation between Korean organizations which is needed to win overseas infrastructure megaprojects such as road-rail complex projects and capital relocation projects.
King Hamad Causeway Railway-Road Complex PPP Project will be the first overseas cooperation project for both organizations. The 25 km railway-road causeway project is designed to connect Saudi Arabia and Bahrain and is estimated to cost approximately USD 3.5 billion. Korea Rail Network Authority is conducting a feasibility study with the support of the Ministry of Land, Infrastructure and Transport and Korean consulting companies.
Korea Highway Corp. has the capacity to operate and maintain highways and it has been bidding in various overseas road operte and maintain PPP projects.
A representative of Korea Highway Corp said: “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."
Country news
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September 20, 2018
Bahrain and Saudi Arabia to tender US$3.5 billion causeway PPP next year
Saudi Arabia’s ambassador to Bahrain has stated publicly that the tender for the King Hamad Causeway, a 25km road and rail bridge that will cross the Gulf of Bahrain, will be launched in six months. The estimated construction cost is between US$3 and 4 billion.
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August 29, 2018
Bahrain to tender US$2 billion metro project next year
An advisor to the Transport Minister of Bahrain has stated publicly that the Ministry plans to tender its first metro project next year. The metro rail system will span 109km and cost between US$1.5 and 2 billion to construct.
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October 26, 2016
Atkins appoints managing director for transportation and infrastructure in Middle East & Africa
Atkins, a design, engineering and project management consultancy, has appointed Phil Malem as managing director for its transportation and infrastructure business, Middle East & Africa. Read more -
August 03, 2016
Mumtalakat acquires an equity stake in leading Italian healthcare services provider, KOS Group
Bahrain Mumtalakat Holding Company, the investment arm of the Kingdom of Bahrain, has announced its successful acquisition of an equity stake in KOS Group, a leading European healthcare group focused on longterm care and rehabilitation services, with additional activities in hospital equipment management, diagnostics and cancer care services. This investment reflects Mumtalakat’s continued commitment to grow its portfolio across multiple sectors and geographies. Read more -
February 13, 2011
Wastewater treatment plant achieves commercial Close in Bahrain
The project is the first wastewater treatment plant procured by the Government of Bahrain on a PPP basis. Read more
