Budget Reduced, Facility Performance Improved... BPA Conducts Economic Feasibility Review for New Port Bukcon Phase 2 Project Design

Aerial perspective of the new port north container terminal.

[Asia Economy Yeongnam Reporting Headquarters, Reporter Hwang Du-yeol] Busan Port Authority (BPA) will conduct an economic feasibility review of the design for the 630 billion KRW 'Busan New Port North Container Phase 2 Port Hinterland Complex Construction Project' for two weeks starting from the 25th.

Considering the characteristics of the design, which involves special construction methods such as blasting, rock excavation, vertical shafts, and remote unmanned technology, BPA plans to have VE experts and VE leaders from six fields, including smart construction technology and blasting (explosives), conduct the economic feasibility review of the design.

The economic feasibility review of the design (VE, Value Engineering) involves experts from various fields collaborating to analyze the design content.

VE is a system that proposes alternatives considering economic efficiency and constructability to improve the inherent functions and performance of facilities and reduce life-cycle costs.

According to Article 75 of the Enforcement Decree of the Construction Technology Promotion Act, it is mandatory to conduct this review at the design stage for construction projects with a total construction cost of 10 billion KRW or more, carried out by the government, local governments, or public institutions.

Last year, BPA conducted 'economic feasibility reviews of designs' for five projects, achieving a total budget reduction of 6.5 billion KRW and significantly improving facility performance.

This year as well, based on the expertise and ideas of professionals, BPA plans to achieve budget savings and quality improvements through active VE activities.

Min Byung-geun, Head of BPA's Construction Headquarters, stated, "We will operate the system effectively to reduce the budget and build cutting-edge, high-quality facilities, fulfilling our role as a leading public institution in the construction sector."

This content was produced with the assistance of AI translation services.