Korea Expressway Corporation announced on March 14 that it discussed cooperation plans in the road sector in African regions as a whole with African Development Bank (AfDB) President Akinwumi Adesina at Lotte Hotel Seoul on March 13.
President Adesina, who was very much impressed with South Korea’s rapid economic growth based on infrastructure, including expressway, asked to have talks. At the meeting, the two discussed the establishment of infrastructure through public-private partnership (PPP), current condition of exchanging road traffic technologies and cooperation plans in the future.
In particular, President Adesina asked Korea Expressway Corp. to make an investment to develop infrastructure in Africa and Korea Expressway Corp. President Lee Gang-rae promised to exchange technologies in road construction and operation to improve the competence as well as to help the African Development Bank to successfully hold its annual general meeting in Busan in May this year.
Meanwhile, Korea Expressway Corp. has continuously cooperated with the African Development Bank from 2008 by signing an MOU with three countries, including Tanzania, Cote d'Ivoire and Ethiopia, and sending experts to them. The company also currency carries out projects worth 33.7 billion won (US$31.66 million) in Africa, ranging from design review, new construction supervision and feasibility study in the road sector to road PPP consulting.