Financing secured for rest of GTX-B development.

TLDR:

• Ministry of Land, Infrastructure and Transport in Korea has approved private financing for remaining sections of GTX-B express commuter line.
• GTX-B will provide a faster alternative to Seoul’s metro network with services operating at up to 140km/h.

The Ministry of Land, Infrastructure and Transport (Molit) in Korea has announced an agreement to privately finance and build the remaining sections of the GTX-B express commuter line. The 82.8km line will run from Incheon to Maseok with the central section from Yongsan to Sangbong being publicly funded. A consortium led by Daewoo Engineering and Construction will fund and build the 62.8km sections and operate the entire line under a build-transfer-operate (BTO) model. The construction is expected to take six years to complete at a cost of Won 4.29 trillion. GTX-B services will operate at up to 140km/h and cut journey times significantly. According to Molit’s director of railways, Mr Yoon Jin-hwan, the line will reduce travel time from Maseok to central Seoul to 30 minutes from over 1 hour by metro and bus.