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nature of the asset
Gwangju Second Beltway, Section 3-1 is a 3.5 km, dual three-lane city expressway with two bridges, two tunnels and one interchange, running east to west along the southern edge of Gwangju, Korea’s fifth largest city. Construction commenced in April 2002 and was completed in November 2004. This is the second private infrastructure section of the Gwangju second beltway, and is directly linked to the Gwangju Second Beltway Section 1, which is operated by KBICL, a wholly-owned concession company.
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nature of the investment
MKIF has committed to invest into Kwangju Ring Road Co., Ltd. (KRRC), the concessionaire of Gwangju Second Beltway, Section 3-1 in the form of equity and senior loans. MKIF is a 75.0 % shareholder of KRRC, and provided senior loans of KRW73.3 billion. MKIF’s total investment in KRRC is KRW102.2 billion.
Length: 3.5 km
Capacity: 6 lanes in both directions
Toll rate: KRW 900 - Small vehicles
Government authority: Gwangju City Governement
Concession term: 30 years (27 years remaining)
Guarantee duration: 30 years
Concession term commencement: December 2004
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