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.<\/p>\n
GTX-B will run for a total of 82.8km from Incheon via Seoul to Maseok. The 19.9km central section from Yongsan to Sangbong is publicly funded.<\/p>\n
Molit awarded the construction contract<\/a> for the Incheon University – Yongsan and Sangbong – Maseok sections, totalling 62.8km, to a consortium led by Daewoo Engineering and Construction in January 2023.<\/p>\n The consortium will now fund and build these sections and operate the entire GTX-B line over a 40-year period under a build-transfer-operate (BTO) model.<\/p>\n Construction is expected to take six years to complete and cost a total of Won 4.29 trillion ($US 3.2bn). Work on the central section began last year.<\/p>\n Molit now hopes to quickly finalise the agreement with its preferred supplier, which would enable construction to start soon on the remaining two sections.<\/p>\n Running in tunnel up to 40m below the surface, GTX-B services will operate at up to 140km\/h and serve a total of 14 stations. Up to 160 trains per day will operate between Incheon National University and Cheongnyangni, carrying over 270,000 passengers.<\/p>\n According to Molit\u2019s director of railways, Mr Yoon Jin-hwan, GTX-B will cut the journey time from Maseok to central Seoul to 30 minutes, compared with over 1 hour at present by metro and bus.<\/p>\n \u201cThe journey time between Incheon National University and Maseok is expected to significantly decrease from over two and a half hours to just one hour,” he says.<\/p>\n For detailed data on Asian rail projects,\u00a0subscribe to IRJ Pro<\/a>.<\/em><\/p>\n The post Private finance approved for remaining sections of GTX-B<\/a> appeared first on International Railway Journal<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" 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 […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[47,5],"tags":[],"class_list":["post-15845","post","type-post","status-publish","format-standard","hentry","category-rail-news","category-transport"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t