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nature of the asset
Incheon Grand Bridge will be a 12.3 km, dual three-lane tolled bridge in the city of Incheon. Construction began on the bridge on 1 July 2005. It will connect the Incheon Free Economic Zone and Incheon International Airport located on Yeongjong Island. We anticipate that upon completion, it will be the longest bridge in Korea and the fifth-longest cable-stayed bridge in the world.
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nature of the investment
MKIF has committed to provide equity, senior loans, and subordinated loans for the project. MKIF's equity investment into Incheon Grand Bridge is made indirectly, through Private Infrastructure Investment Korea (PIIK), a Special Purpose Vehicle which committed to invest 41% of equity interest in Incheon Bridge Company (IBC). MKIF has also committed to provide senior loans of KRW188.0 billion and subordinated loans of KRW89.4 billion directly to IBC. MKIF’s total commitment to Incheon Grand Bridge project is KRW351.9 billion.
Length: 12.3 km
Capacity: 6 lanes in both directions
Toll rate: TBD
Government authority: Ministry of Land, Transport and Maritime Affairs
Concession term: 30 years
Guarantee duration: 15 years
Concession term commencement: Under construction. Operation commencement expected in 2009
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