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Korea keen to invest in more PPP projects

  • Staff Correspondent
  • 18 November, 2021 12:00 AM
  • Print news
Korea keen to invest in more PPP projects

Popular News

Korea has shown interest in investing in more Public-Private Partnership (PPP) Projects in Bangladesh.

Yoon Sung-won, 1st Vice-Minister of Ministry of Land, Infrastructure and Transport of the Republic of Korea (MOLIT), expressed his keen interest for investing in implementation of more PPP projects in Bangladesh in the coming days.

The vice-president said this while speaking at a two-day long virtual bilateral meeting between Bangladesh and Korea organised by International Contractors Association of Korea (ICAK) on Tuesday.

Ministry of Land, Infrastructure and Transport of the Republic of Korea (MOLIT) hosted the meeting titled ‘Global Infrastructure Cooperation Conference 2021 (GICC 2021)’.

Sultana Afroz, Secretary to the government of Bangladesh and the Chief Executive Officer, PPP Authority, attended the meeting from Bangladesh while Yoon Sung-won, 1st Vice-Minister of MOLIT, Lee Kang-hoon, CEO and President of Korea Overseas Infrastructure, Urban Development (KIND) joined from Korea.

During the meeting, Sultana Afroz highlighted the signed PPP G2G MoU and the projects that have been taken by Korean investors under PPP mode of delivery.

She also thanked Korean government for their interest in Bangladesh for implementation of PPP projects.

Lee Kang-hoon, CEO of KIND discussed the 4th Joint PPP platform meeting that is expected to be held in Seoul, Korea next month.

Currently, there are three ongoing G2G PPP projects with Korea, namely Improvement of Dhaka (Joydebpur) - Mymensingh Road into Expressway with Service Lane, Construction of Bridge on Bhulta-Araihazar-Bancharampur Road (R-203) over the River Meghna (Meghna Bridge Project) and Construction of Circular Rail Line around Dhaka City.

The aggregate cost is estimated to be $9.45 billion for these three projects.