By Kim Na-young
LEIPZIG, Germany, Might 21 (Yonhap) — The South Korean consortium has a aggressive benefit in expertise switch over its Chinese language rival because it vies to win the United Arab Emirates’ (UAE) high-speed railway venture, estimated to price US$13.6 billion, Seoul’s transport minister mentioned Wednesday.
Transport Minister Park Sang-woo mentioned 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 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 expertise switch on high of product high quality, whereas China seems to concentrate on the worth dimension,” Park instructed Yonhap Information Company.
Earlier this yr, the UAE opened two separate bids for the venture — roadbed and railway automobile constructions. It goals to construct a brand new 150-kilometer-long high-speed prepare line linking Abu Dhabi and Dubai with a objective of starting operations in 2030.
South Korean Transport Minister Park Sang-woo (R) and Kim Younger-tae (C), secretary basic of the Worldwide Transport Discussion board (ITF), are seen attending the 2025 ITF Summit held in Leipzig, Germany, on Might 21, 2025, on this photograph supplied by the ITF. (PHOTO NOT FOR SALE) (Yonhap)
To win abroad development tasks, three components needs to be thought of: worth competitiveness, localization capabilities and talent to complete the venture “on time,” the minister identified.
In comparison with different opponents within the race for the bid, Seoul’s power lies in its localization and on-time capabilities, together with expertise switch, Park mentioned.
South Korea’s potential win within the UAE venture may pave the way in which for the nation to increase its foothold within the abroad development 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 nations pushing for their very own high-speed railway venture within the close to future.
In February, South Korea’s Hyundai Rotem gained a 2.2 trillion-won (U.S. $1.6 billion) deal from Morocco to provide superior trains. Final yr, it additionally signed a 270 billion gained contract to provide high-speed trains to Uzbekistan.
The minister additionally mentioned South Korea will work to develop hydrogen-powered trains in keeping with the worldwide group’s push for decarbonization of the transport sector.
Earlier this month, Seoul’s transport ministry introduced a plan to develop and commercialize hydrogen-fueled trains by 2028 to assist the native trade safe world management within the area.
The worth of the worldwide hydrogen prepare market is projected to develop to $26.4 billion by 2035 from the present worth of $2.67 billion, based on the ministry.
orway@nana.co.kr(END)
