Korea-Paraguay Launch Full-Scale Promotion of 600 Billion Won Light Rail Project

[Asia Economy Reporter Ryu Tae-min] The Ministry of Land, Infrastructure and Transport announced on the 28th that it will actively pursue the order for the Asuncion Light Rail Transit (LRT) project in Paraguay, valued at 600 billion KRW.

The Ministry stated that the "Asuncion LRT Promotion Special Act" is scheduled to be submitted to the Paraguayan Congress on the same day. Once the special act is submitted to Congress, it is expected to be enacted within the first half of this year after discussions in both the House of Representatives and the Senate in May.

The Ministry explained that the acceleration of this special act promotion was triggered by the visit of Yoon Sung-won, the 1st Vice Minister of the Ministry of Land, Infrastructure and Transport, to Paraguay from April 24 to 27 (local time). Vice Minister Yoon met with Paraguayan President Mario Abdo Benitez and held a project briefing at the presidential palace.

This project is an investment and development type project connecting 43.2 km from Paraguay’s capital Asuncion to the suburb of Ypacarai, with a total project cost of approximately 600 billion KRW. If the special act is enacted, the first LRT project constructed in Paraguay’s capital will be awarded to the Korean consortium (Team Korea). Team Korea consists of Korea Overseas Infrastructure & Urban Development Corporation (KIND), Hyundai Engineering, Gyeryong Construction, LS Electric, and Hyundai Rotem.

A Ministry official said, “Based on cooperation between the two countries, this is Korea’s first project order through the enactment of a special act and the first railway package (construction and operation) achievement,” adding, “We will continue to make efforts to expand orders based on the performance of this project.”

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