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SK E&C to lead $730 mn international infrastructure project in Kazakhstan

Collected: 2018.02.09

Distributed: 2018.02.12

Source: Go Direct

[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

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