Authority tops all technical and price categories against global rail powers, laying groundwork for Latin American infrastructure market entry
Korea Rail Network Authority has secured a major railway supervision contract in Peru, beating out competitors from leading rail nations.
The authority said Tuesday it was selected as the final contractor for the "Peru Huancayo–Huancavelica Railway Improvement Design Review and Construction Supervision" project, worth approximately $13 million (19.2 billion won), commissioned by Peru's Agency for the Promotion of Private Investment in Infrastructure.
The project involves modernizing an aging 128.7-kilometer line running through Peru's central Andean highlands at elevations above 3,600 meters. The authority's consortium will carry out supervision duties across the construction and operations phases over roughly five years.
The authority formed a global consortium with domestic engineering firms and local partners, topping all technical and price evaluation categories with perfect scores to win the contract over competitors from Spain, Japan and other major rail nations.
The authority plans to use the project as a springboard to help South Korean rail companies enter the Peruvian market and to expand its presence in large-scale railway infrastructure markets across neighboring Latin American countries, including El Salvador, Panama and Colombia.
Lee An-ho, acting president of Korea Rail Network Authority, said the contract win was "a triumph that again demonstrates the excellence of Korean railway technology, earned through head-to-head competition with the world's leading rail nations." He added that the authority would "continue to raise the profile of Korean rail on the global stage and lead international markets together with our companies."
kwonhl@heraldcorp.com
