Three Large-Scale Projects in Jeonbuk Pass Preliminary Feasibility Study

Published 29 Dec.2021 14:20(KST)

Saemangeum Port Access Railway Construction Project, Saemangeum Environmental Ecological Land Phase 2 Project, and Jeonju Area Metropolitan Water Supply Pipeline Duplication

Three Large-Scale Projects in Jeonbuk Pass Preliminary Feasibility Study

[Jeonju=Asia Economy Honam Reporting Headquarters Reporter Kim Han-ho] Jeonbuk Province announced on the 29th that three large-scale investment projects have all passed the preliminary feasibility study (PFS) stage.

According to the province, at the 8th Ministry of Economy and Finance Fiscal Project Evaluation Committee held this year, the agenda including the results of the preliminary feasibility study completed in December was reviewed and approved, and all three Jeonbuk projects passed.

As a result, stable investment including securing national budget is now possible.

The projects that passed the PFS are, first, the "Saemangeum Port Inbound Railway Construction Project."

This project marks the cornerstone of building the Saemangeum Tri-port (railroad, airport, port), and is expected to invigorate internal development of Saemangeum and attract businesses.

Also, the "Saemangeum Environmental Ecological Land Phase 2 Project" is expected to create a landmark that leads an ecological civilization where nature and humans coexist, and preservation and utilization harmonize wisely, creating Saemangeum’s unique natural ecological landscape.

Lastly, the "Jeonju Metropolitan Waterworks Pipeline Duplication Project" will establish a foundation for securing the stability of water supply facilities, preventing damage caused by large-scale water outages to about 1.3 million residents in five cities and counties.

Jeonbuk Province self-assessed that, as it steps into the era of a 9 trillion won national budget, it has achieved greater results than any other year by passing the PFS for large-scale projects that will become future growth engines for Jeonbuk.

Governor Song Ha-jin said, “Looking at the projects that passed the PFS this time, they are projects that will lead Jeonbuk Province’s transition to an ecological civilization era and drive harmonious development of Saemangeum,” adding, “The government has recognized the validity of these projects, and this result also reflects the consideration of various opinions on Saemangeum development. Therefore, I ask everyone to unite their efforts so that these projects can be well established on track in the future.”