Korea has competitive edge over China in UAE high-speed railway bid, transport minister says

The Korean consortium has a aggressive benefit in know-how switch over its Chinese language rival because it vies to win the United Arab Emirates’ (UAE) high-speed railway venture, estimated to value $13.6 billion, Seoul’s transport minister stated Wednesday.   Transport Minister Park Sang-woo stated that the Korean consortium, consisting of the Korea Nationwide Railway, Korail, Hyundai Rotem and Posco E&C, has handed the prequalification process to enter the official bid for the Center Japanese nation’s railway venture.     Park is at the moment within the japanese German metropolis of Leipzig to attend the three-day Worldwide Transport Discussion board (ITF) Summit, which kicked off earlier within the day.   “Our major focus is on know-how switch on prime of product high quality, whereas China seems to concentrate on the value dimension,” Park informed Yonhap.   Earlier this 12 months, the UAE opened two separate bids for the venture — roadbed and railway automobile constructions. It goals to construct a brand new 150-kilometer-long (93-mile) high-speed practice line linking Abu Dhabi and Dubai with a objective of starting operations in 2030.   To win abroad building initiatives, three elements needs to be thought-about: value competitiveness, localization capabilities and talent to complete the venture “on time,” the minister identified.   In comparison with different rivals within the race for the bid, Seoul’s power lies in its localization and on-time capabilities, together with know-how switch, Park stated.   Korea’s potential win within the UAE venture may pave the best way for the nation to broaden its foothold within the abroad building market, particularly contemplating that Seoul proposed a European high-speed railway mannequin to the Center Japanese nation, he added.   Vietnam, Egypt and Peru are reportedly among the many international locations pushing for their very own high-speed railway venture within the close to future.   In February, Korea’s Hyundai Rotem received a 2.2 trillion-won ($1.6 billion) deal from Morocco to produce superior trains. Final 12 months, it additionally signed a 270 billion received contract to produce high-speed trains to Uzbekistan.   The minister additionally stated Korea will work to develop hydrogen-powered trains in step with the worldwide neighborhood’s push for decarbonization of the transport sector.   Earlier this month, Seoul’s Ministry of Land, Infrastructure and Transport introduced a plan to develop and commercialize hydrogen-fueled trains by 2028 to assist the native trade safe world management within the discipline.   The worth of the worldwide hydrogen practice market is projected to develop to $26.4 billion by 2035 from the present worth of $2.67 billion, in response to the ministry.

Yonhap