Southern Infrastructure
The South Korean Ministry of Land, Infrastructure and Transport (MOLIT)’s undersecretary, Kim Kyung-hwan, is visiting Colombia, Peru, Chile, and Brazil with a support group of South Korean businesses that are interested in the countries’ projects, the MOLIT said on July 6.
Hyundai Rotem, the Korea Rail Network Authority, Hyundai Engineering & Construction, Samsung C&T are part of the support group, Hyundai Rotem said.
The support group is going to conclude a memorandum of understanding (MOU) with Colombia in order to enhance cooperation between the countries, as well as to support South Korean companies for a number of projects in Colombia such as the Bogota Train (US$75 billion), Takara Les Railways (US$2.3 billion), and the Prosperity Expressway (US$77 billion), the MOLIT said.
In Peru, the support group is going to conclude an MOU for cooperation in the intelligent transportation system (ITS) sector. The MOLIT is going to support South Korean companies for the Lima Metro Line 3 and 4 construction (US$50 billion), Lima Southern Waterworks (US$600 million), highway toll collection system (US$10 million) projects, via consultations with the Transportation Communication Minister, Minister of Agriculture, and Investment Administrator of Peru.
Hyundai Rotem said that the company is going to compete for a number of projects in the South American market, the value of which is US$2 billion. The projects include building the Lima Subway Line 3, Colombia Bogota Metro Line 1 project, and the Campinas Wide Railroad semi-high-speed train project in Sao Paulo, Brazil.