[Photo provided by SK E&C]
South Korea’s SK Engineering & Construction Co. (SK E&C) said Thursday its consortium has won a hefty infrastructure project in Kazakhstan that can generate revenue for two decades.
Unlisted SK E&C in a consortium with state-run Korea Expressway Corp. and Turkish builders Alarko and Makyol clinched the deal to improve traffic flow in its capital city Almaty through installation of a four-lane or six-lane ring road, 21 bridges and eight interchanges. The infrastructure will be run by the consortium for nearly 16 years and returned to the government.
The $730 million project will pay $540 million for the construction estimated to take 50 months to complete. The three builders will construct and Korea Expressway will manage the infrastructure.
SK E&C has already secured financing from the European Bank for Reconstruction and Development (EBRD) and International Finance Corp (IFC).
By Kim Gang-rae and Lee Ha-yeon
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]