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MKIFThe leading infrastructure fund in Korea

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MKIF» MKIF assets» Busan New Port Phase 2-3

MKIF assets

Busan New Port Phase 2-3

One of the national priority projects designed to meet future demand driven by Busan's position as a regional shipping and logistics hub

Nature of the asset
Nature of the investment

Nature of the asset

BNP 2-3 is now one of the five terminals operating within Busan New Port, a national priority port project intended to meet the growing shipping volume in Busan as Asia’s leading shipping and logistic hub. Construction began in January 2008 and completed in December 2011 as originally scheduled. BNP2-3 is a container terminal, handling maximum capacity of 2.7 million Twenty-foot-Equivalent Units(TEUs) per year.

Nature of the investment

MKIF has invested in BNCT Co., Ltd, the concessionaire of Busan New Port Phase 2-3, in the form of equity and subordinated loans. MKIF currently has 30.0% of equity interest (KRW 66.4 billion), making MKIF the largest shareholder, and 100% of the subordinated loan (KRW193 billion). MKIF’s total investment in Metro9 is KRW259.4 billion.

Concession agreement

Concession agreement
Government authority:	Ministry of Land, Transport and Maritime Affairs
Concession term:	29 years and 3 months
Concession term commencement:	January 2012

Facilities

Facilities
Site area:	840,000m²
Berthing facilities:	Four 50,000 ton berths
Capacity:	Estimated maximum handling capacity 2.7 million TEUs per year

Asset map

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Macquarie only carries on banking activities in those countries it is authorised to do so. Macquarie Bank Limited (MBL) is authorised by the Australian Prudential Regulation Authority (APRA) in Australia to carry out banking business in Australia. Each of MBL, acting through its London branch, and Macquarie Bank International Limited, is authorised and regulated by the UK Financial Services Authority to carry on banking business in the United Kingdom. MBL, acting through its Seoul Branch, is authorised and regulated by the Financial Services Commission in Korea to carry out banking business in Korea. MBL, acting through its Singapore Branch, is authorised and regulated by the Monetary Authority of Singapore to carry out banking business in Singapore.

Other than MBL, any Macquarie Group entity noted on this page is not an authorized deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). That entity's obligations do not represent deposits or other liabilities of MBL. MBL does not guarantee or otherwise provide assurance in respect of the obligations of that entity, unless noted otherwise.

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