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MKIFThe leading infrastructure fund in Korea

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MKIF» MKIF assets» Machang Bridge

MKIF assets

Machang Bridge

A grand bay bridge directly connecting the cities of Masan and Changwon

Nature of the asset
Nature of the investment

Nature of the asset

Construction of the 1.7 km, dual two-lane, cable-stayed Machang Bridge commenced in April 2004 and was completed in June 2008. The bridge provides a vital link across Masan Bay and is expected to alleviate severe traffic congestion in the cities of Masan and Changwon as an alternative route for travel between Korea’s two southern provinces, Jeollanam-do and Gyeongsangnam-do.

Nature of the investment

MKIF has invested in MCB Co., Ltd. (MCB), the concessionaire of Machang Bridge in the form of equity and subordinated loans. MKIF currently has 70% of equity interest KRW33.8 billion and 50% of the subordinated debt (KRW79.0 billion) in MCB. MKIF’s total investment to MCB is KRW112.8 billion.

Concession agreement

Concession agreement
Government authority:	Gyeongsangnam Provincial Government
Concession term:	30 years
Guarantee duration:	30 years
Concession term commencement:	July 2008
Minimum Guarantee:	75.78% of annual CA projected revenue
Revenue Cap:	120% of annual CA projected revenue

Facilities

Facilities
Length:	1.7 km
Capacity:	Dual two-lane in both directions
Toll rate:	KRW 2,000 – small vehicles

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