The main section of the second beltway of Gwangju City connecting the east and west districts
Gwangju Second Beltway, Section 3-1 is a 3.5 km, dual three-lane expressway with two bridges, two tunnels and one interchange, running east to west along the southern edge of Gwangju, Korea’s fifth largest city. Construction commenced in April 2002 and was completed in November 2004. This is the second private infrastructure section of the Gwangju second beltway, and is directly linked to the Gwangju Second Beltway Section 1, which is operated by KBICL, a wholly-owned concession company.
MKIF has invested in Kwangju Ring Road Co., Ltd. (“KRRC”), the concessionaire of Gwangju Second Beltway, Section 3-1, in the form of equity and senior loan. As of the record date, MKIF is a 75.0% shareholder of KRRC, and MKIF’s total investment amount is KRW 43.8 billion, which is comprised of equity of KRW 28.9 billion and senior loan of KRW 14.9 billion.
|Government authority:||Gwangju Metropolitan City|
|Concession term:||30 years|
|Guarantee duration:||30 years|
|Concession term commencement:||December 2004|
|Minimum Guarantee:||90% of annual CA projected revenue|
|Revenue Cap:||110% of annual CA projected revenue|
|Capacity:||Dual three-lane in both directions|