Signed a memorandum of understanding (MOU) on infrastructure cooperation between Korea and Paraguay,
Asuncion Light Rail Leading Project Promotion
The Ministry of Land, Infrastructure and Transport (Minister Noh Hyung-wook) has announced that the Minister of Land, Infrastructure and Transport and the Minister of Public Works and Communication of Paraguay signed a memorandum of understanding (MOU) for cooperation in the Paraguay infrastructure sector at the Conrad Hotel in Yeouido.
Through this MOU, the two countries established a cooperative system for infrastructure construction such as railroads, and selected the ‘Paraguay Asunción–Ypacaraí Light Rail Transit Project’ as a leading project,
Team Korea led by Korea Overseas Infrastructure Urban Development Support Corporation (KIND) and Paraguay Railway Corporation (FEPASA) agreed to promote the project.
* KIND : Korea Overseas INfrastructure & Urban Development Corporation)
** FEPASA: Ferrocarriles del Paraguay SA,
Following the signing of the memorandum of understanding between Korea and Paraguay, the president of KIND and the president of FEPASA signed the ‘Paraguay Asuncion-Epacarai Light Rail Project Development Agreement’, which stipulates the detailed procedures and roles of each institution in the Asuncion railway project. All conditions for this were established.
Asuncion light rail project is promoted by Paraguayan capital of Asuncion and the outer euppa Takara railway investment gaebalhyeong (Public-Private Partnership) city linking them how and Paraguayan governments have existing facilities are outdated facility inactive Asuncion rail (construction 1861) By constructing and operating a modern light rail urban railroad on the site, it is expected that it will not only solve the problem of traffic congestion in the Asuncion area, but also serve as an opportunity for continuous urban development through economic revitalization and job creation.
Paraguay Asuncion Light Rail Project Overview
Business site: Paraguay’s capital Asuncion ~ Upakarai
Business Structure: Public-Private Partnership Project (PPP)
Project Details: Extension of about 43km (7 stations, 1 vehicle depot)
Project period: 35 years (approximately 5 years of construction, 30 years of operation)
Total project cost: about 500 million dollars
In August of last year, our public-private joint delegation* (order support group) visited Paraguay and signed an agreement to cooperate between KIND and FEPASA in advance review such as the Asuncion Railway Project Development Initiative. The project feasibility study service (‘20.11 ~’21.06) was carried out and a plan was prepared to construct a total project cost of about 500 million dollars, an extension of 43km, 7 stations, and 1 vehicle base.
* Consists of the Ministry of Land, Infrastructure and Transport, the Ministry of Foreign Affairs, KIND, the National Iron and Steel Corporation, and private construction companies.
KIND shared the results of the feasibility study through a local report meeting (May 21), and prepared a plan for cooperation in the infrastructure sector between the two countries for smooth and prompt promotion of the Asuncion railway project.
Oh Seong-ik, head of the Overseas Construction Policy Division of the Ministry of Land, Infrastructure and Transport, said, “With this MOU signing as an opportunity, we hope that Korea-Paraguay infrastructure cooperation will continue to expand, and we will continue to strive to improve the conditions for Korean companies to participate in overseas infrastructure projects.”
Ministry of Land, Infrastructure and Transport Overseas Construction Policy Division