 |
|
|
|
|
nature of the asset
Seoul-Chuncheon Expressway is a 61.4 km, dual two- to three-lane toll expressway, which will provide a link between Seoul and Gangwon province. This expressway will provide an alternate link to existing routes between Seoul and eastern Korea in a network which is presently at, or near, its full capacity. Construction of the Seoul-Chuncheon Expressway began in August 2004, and the expressway is expected to be operational in August 2009.
|
nature of the investment
MKIF has committed to make an investment in Seoul Chuncheon Highway Co., Ltd. (SCE) in a form of equity and a subordinated loan. MKIF’s total investment commitment to SCE is KRW136.0 billion consisting of KRW48.6 billion of equity and KRW87.4 billion of subordinated loans.
Length: 61.4 km
Capacity: 4-6 lanes in both directions
Toll rate: KRW 5,200 (vehicle class 1, real price as of 31 December, 2002)
Toll evaluation: Annual adjustment by inflation
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
|
|
