Railway Corporation, New Orders in Railway Technology Sector Totaling '1.5 Trillion Won'

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Korea Rail Network Authority announced on the 12th that it will newly order construction projects worth 1.56 trillion KRW in five railway technology fields: electric, signaling, communication, track, and rolling stock.

This year's order scale increased by 9.6% compared to last year. First, the Rail Network Authority plans to order electrification works for the Seohae Line double-track railway project (Hongseong~Songsan section) and the Donghae Line Pohang~Donghae section, and as a new design project, it will order the Chuncheon~Sokcho railway construction project.

In addition, signaling and track construction works will be ordered for the electrification projects of the Gyeongjeon Line Gwangyang~Jinju section and the Janghang Line Hongseong~Sinchang section, which are currently operated by non-electrified trains.

The electrification projects are expected to be completed in 2023 for the Gyeongjeon Line Gwangyang~Jinju section and in 2022 for the Janghang Line Hongseong~Sinchang section, respectively. After completion, the Rail Network Authority explained that operation of eco-friendly electric trains with significant energy-saving effects will be possible.

Kim Sang-gyun, Director of the Rail Network Authority, said, “We will ensure that 1.22 trillion KRW (78.1%) can be ordered early in the first half of the year according to the progress of each major project.” He added, “In particular, to expand opportunities for small and medium-sized enterprises, we will implement divided ordering by project sections and expand the items directly purchased by the Rail Network Authority to support SMEs and promote domestic economic revitalization.”

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