Songdo Resource Circulation Center in Incheon to Be Completed by 2030... Project Cost Adjustment Under Discussion
On December 9, Incheon City announced plans to complete the construction of a new waste incineration facility (Resource Circulation Center) in Songdo International City by 2030.
This year, the city completed administrative procedures such as the public architectural planning review, approval of the shared property management plan, and the business management delegation agreement with the Korea Environment Corporation. Currently, discussions are underway with the Ministry of Economy and Finance regarding adjustments to the total project cost.
During these discussions, the city is considering additional budget allocations to improve odor management at the waste receiving area and to ensure construction safety. The site for the Resource Circulation Center is located in Songdo International City, which was formerly a tidal flat, resulting in weak ground conditions.
Once the negotiations with the Ministry of Economy and Finance are finalized, the city plans to proceed with the basic design next year, followed by detailed design and groundbreaking in 2027, aiming to complete the facility by the end of 2030. The Korea Development Institute (KDI), which reviewed the project’s feasibility, has set the project cost for the Resource Circulation Center at 264.8 billion won.
Hot Picks Today
"Could I Also Receive 370 Billion Won?"... No Limit on 'Stock Manipulation Whistleblower Rewards' Starting the 26th
- Samsung Electronics Labor-Management Reach Agreement, General Strike Postponed... "Deficit-Business Unit Allocation Deferred for One Year"
- "From a 70 Million Won Loss to a 350 Million Won Profit with Samsung and SK hynix"... 'Stock Jackpot' Grandfather Gains Attention
- "Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Who Is Visiting Japan These Days?" The Once-Crowded Tourist Spots Empty Out... What's Happening?
The Songdo Resource Circulation Center will have the capacity to process 530 tons of waste per day and will be built near the old, outdated incineration facility. An official from Incheon City stated, "We will expedite the project to expand safe and eco-friendly incineration facilities."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.