Seoul, Might 22
The South 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 undertaking, estimated to price $13.6 billion, Seoul’s transport minister stated.
Transport Minister Park Sang-woo stated that the Korean consortium, consisting of the Korea Nationwide Railway, Korea Railroad Corp., Hyundai Rotem Co. and POSCO E&C Co., has handed the pre-qualification process to enter the official bid for the Center Japanese nation’s railway undertaking.
Park was within the jap German metropolis of Leipzig to attend the three-day Worldwide Transport Discussion board (ITF) Summit.
“Our major focus is on know-how switch on prime of product high quality, whereas China seems to concentrate on the worth dimension,” Park informed Information Company.
Earlier this 12 months, the UAE opened two separate bids for the undertaking — roadbed and railway car constructions. It goals to construct a brand new 150-kilometer-long high-speed practice line linking Abu Dhabi and Dubai with a objective of starting operations in 2030.
In comparison with different rivals within the race for the bid, Seoul’s energy lies in its localisation and on-time capabilities, together with know-how switch, Park stated.
South Korea’s potential win within the UAE undertaking may pave the best way for the nation to increase 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.
