Shinhan Bank Arranges 3.087 Trillion Won in Financing for GTX-B Line
Shinhan Bank announced that it has completed financial arrangements totaling 3.087 trillion won for the Metropolitan Area Express Railway (GTX)-Line B private investment project and held a project finance agreement ceremony on the 15th.
At the "Metropolitan Area Express Railway Line B Private Investment Project Finance Agreement Ceremony" held on the 15th at the Conrad Hotel in Yeongdeungpo-gu, Seoul, Shin Sanghyuk, President of Shinhan Bank (fourth from the left), Kim Bohyun, CEO of Daewoo Construction (fifth from the left), Kim Junghoon, CEO of GTXB Co., Ltd. (sixth from the left), and other officials are posing for a commemorative photo. Photo by Shinhan Bank
View original imageThe signing ceremony was attended by representatives from Shinhan Bank, the lead financial arranger, as well as co-arrangers IBK Industrial Bank of Korea, Kyobo Life Insurance, other major financial institutions (including financial investors and lenders), and Daewoo Construction, the main construction investor.
The GTX-B Line project involves the construction of a high-speed metropolitan railway stretching 82.8 kilometers, connecting Incheon Songdo Incheon National University Station to Maseok in Namyangju, Gyeonggi Province. The project officially commenced construction last month after submitting the groundbreaking report to the Ministry of Land, Infrastructure and Transport, with the goal of opening in 2031.
Shinhan Bank stated that the signing of this financial agreement has alleviated concerns about potential project delays due to rising construction costs, and the project is now expected to proceed stably according to the planned schedule.
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Shin Sanghyuk, President of Shinhan Bank, who attended the event, said, "As a core transportation infrastructure for the metropolitan area, the GTX-B Line will significantly help alleviate traffic congestion and reduce travel times between regions after its opening. We will continue to provide the best financial support and cooperation for the successful execution of this project."
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