A grand bay bridge directly connecting the cities of Masan and Changwon
Construction of the 1.7 km, dual two-lane, cable-stayed Machang Bridge commenced in April 2004 and completed in 2008. The bridge provides a vital link across Masan Bay and alleviates severe traffic congestion in the cities of Masan and Changwon as an alternative route between Korea’s two southern provinces, Jeollanam-do and Gyeongsangnam-do.
MKIF has invested in MCB Co., Ltd. (“MCB”), the concessionaire of Machang Bridge, in the form of equity and subordinated loan. As of the record date, MKIF has 70% of equity interest in MCB, and MKIF’s total investment amount is KRW 112.8 billion, which is comprised of equity of KRW 33.8 billion and subordinated loan of KRW 79.0 billion.
|Government authority:||Gyeongsang Namdo 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*:||100% of annual CA projected revenue|
* 50:50 revenue sharing with the relevant authority in excess of expected revenue at 100% level
|Capacity:||Dual two-lane in both directions|