Another link to Incheon International Airport expected to reduce travel time between outer Seoul region, Incheon's new Songdo city and the airport
Incheon Grand Bridge is a 12.3 km, dual three-lane tolled bridge connecting Incheon International Airport to the newly developed commercial area of New Songdo International District in Incheon City. Construction began in July 2005 and completed in October 2009 as originally scheduled. Incheon Grand Bridge is the longest bridge in Korea and the fifth-longest cable-stayed bridge in the world.
MKIF has invested in Incheon Bridge Co., Ltd. (IBC), the concessionaire of Incheon Grand Bridge, in the form of equity and subordinated loans. As of record date, MKIF is a 64.05% shareholder of IBC, and has committed to provide subordinated debt of KRW 241.0 billion. MKIF’s total invested capital in IBC is KRW 295.4 billion.
|Government authority:||Ministry of Land, Infrastructure and Transport|
|Concession term:||30 years|
|Guarantee duration:||15 years|
|Concession term commencement:||October 2009|
|Minimum Guarantee:||80% of annual CA projected revenue|
|Revenue Cap:||120% of annual CA projected revenue|
|Capacity:||Dual three-lane in both directions|