Copying and distributing are prohibited without permission of the publisher
Incheon Bridge: Mac moves in
01 July 2005
Read more:
[PPP]
[BOT]
[project financing]
[infrastructure finance]
[limited recourse]
The W1.45 trillion ($1.4 billion) Incheon Bridge project, the first developer-led rather than construction company-led project in South Korea, has reached financial close.
At 12km, the bridge will be the longest bridge in South Korea and the fifth largest in the world and will link Incheon Airport with the Incheon Free Economic Zone and southern Seoul. The project company, Korea Development Company (Koda), is building the asset and has signed a concession document with Incheon City giving it the right to maintain and operate the bridge until 2039.
The principal investor is Macquarie Bank, via Incheon Bridge Investment Company (IBIC), a 100% subsidiary of the bank. IBIC is purchasing a 41% stake in the Koda project for a total consideration of W67.5 billion. Macquarie joins the initial shareholders in Koda: Kookmin Bank (15%), Industrial Bank of Korea (15%), AMEC (23%) and Incheon Metropolitan City (6%).
Debt finance...
You must be logged in to view this page. If you are already a subscriber, or have an active trial, simply log in below.
If you’re not a registered user, you can get access to the website by taking a free trial. You can register for a trial online or by contacting our sales team – simply email benchbase@projectfinancemagazine.com or call +44 (0) 20 7779 8284.
Subscribe
Subscribers have unlimited access to all current and archive content. Start your
subscription today - click on the button below.
Subscribe
Free trial
Taking a free trial will give you access to the latest news and analysis, as
well as the online deals database, BenchBase. Start your free trial today.
Free Trial