South Korean consortium to win light railway project in Paraguay
09 December 2022
A Korean consortium is reported to be set to win a contract to build a light rail project in Asunción, the capital of Paraguay. The railway is said to be the Asian country’s first turnkey railway contract in the export market.
The Korean Ministry of Land, Infrastructure and Transport announced that the upper house of the Paraguayan Congress and the Senate had passed a special bill for the light rail project. According to the bill, the consortium due to undertake the project will be led by the Korea Overseas Infrastructure and Urban Development Corporation (Kind).
The bill has still to be passed by the lower house of the Paraguayan Congress, and the Chamber of Deputies, with the contract expected to be concluded during 2023.
The US$1.6 billion project is said to comprise US$600 million in construction costs and US$1 billion in operation and management costs. The consortium is expected to take four years to build the line, which will be called the Ypacaraí - Asunción Commuter Railway (Asunción Light Rail System).