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nature of the asset
The Soojungsan Tunnel is a 2.3 km, dual two-lane toll tunnel, connecting the Busan central business district and Busan port to the Baekyang Tunnel and onward to the northern and western suburbs of Busan as well as the Kimhae International Airport. The tunnel serves as an important connection to Busan’s port area, which is the fifth largest container port in the world in terms of containers shipped. Construction of the tunnel began in May 1997 and was completed in December 2001.
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nature of the investment
MKIF has invested into Soojungsan Investment Co., Ltd. (SICL), the concessionaire of Soojungsan Tunnel, in the form of equity, senior loans and subordinated loans. MKIF is a 100.0% shareholder of SICL, and committed to provide senior loans of KRW70.2 billion and subordinated loan of KRW19.3 billion. MKIF’s total investment in SICL is KRW136.6 billion.
Length: 2.3 km
Capacity: 4 lanes in both directions
Toll rate: KRW 800 - Small vehicles
Government authority: Busan City Government
Concession term: 25 years (19 years remaining)
Guarantee duration: 25 years
Concession term commencement: April 2002
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