A mission made up of government officials and leaders of construction firms was led by Minister Yoo Il-ho of the Ministry of Land, Infrastructure and Transport (MOLIT) May 29 to June 5. They toured a number of countries in the Middle East, winning construction projects in some countries and coming home with a handful of large projects. They visited four countries in the region, including Kuwait, Saudi Arabia, Oman and the United Arab Emirates.
They signed MOUs on projects in such key areas as transportation, water treatment and infrastructure, and they also asked the governments of those countries to give special consideration to Korean firms seeking to participate in huge plant and railroad construction projects in their countries.
An MOU was signed on the Ethihad Railroad Project ($10 billion) in the United Arab Emirates (UAE) on May 31 to cooperate on transportation infrastructure through the exchange of personnel and technology, paving the way for Korean firms’ participation in those projects. The subject was discussed when President Park Geun-hye toured the region in March this year. The UAE is also building a subway — the Abu Dhabi Metro — at the cost of $7 billion.
Minister Yoon also met with his counterpart in Saudi Arabia to ask for Korean firms’ participation in the projected Landbridge Railroad, which will cost $7 billion, the Jedda Metro ($7 billion) and other railroad construction projects in the Arab country in the days ahead. He received a promise to expand cooperation with Korean builders in those projects from the Saudi transportation minister.
Saudi Arabia’s transportation minister showed huge interest in Korea’s intelligent transportation system, and the research institute on transportation. The minister proposed that an MOU be signed on overall cooperation in transportation, including ITS and highways. He also said he welcomes the Korean companies’ participation in transportation infrastructure projects and would give them support.
In a meeting with the transportation minister in Oman, Minister Lee explained that the consortium, led by Korean firms participating in the railroad project to link with GCC in Oman, have been cooperating with local companies in many areas, including the transfer of technology, to develop the railroad in Oman. He asked for positive support from the host government to Korean firms operating in Oman. The railroad construction project is projected to cost $4 billion to build its first stage work, and entire project is estimated to cost $30 billion.
The minister introduced management and technology in the area of ICT along with high-tech transportation, proposing that Korea will invite Oman to send a delegation to the GICC to be held in Seoul in November, and have a chance to learn from Korea’s transportation infrastructure.
In the area of water resources, the minister met with the head of the Royal Office in the UAE and the head of the Abu Dhabi Environment Office. They discussed details of a joint study on water resources and fresh water treatment, picking up from where President Park left off during her visit to the kingdom in March.
During the visit, the two sides signed an MOU to jointly study turning sea water into fresh water, and agreed to sign another MOU on the cooperation on water resources as soon as possible.
The Korea Agency for Infrastructure Technology Advancement (KAIA) signed an MOU with Masdar, a state-owned company in Oman.
In Saudi Arabia, the mission called on the minister of water resources to inform him of Korea’s interest in desalination projects in the Arab nation, along with a request for Saudi government’s help for Korean firms to participate in those projects using low-energy technology, which would be a perfect fit for the Middle East’s water treatment plants.
In the area of new towns, the mission called on the minister of housing in Kuwait and held discussions on projects, leading to an agreement to exchange experts between Korea Land Housing Corp and the Kuwait Residential Housing Office.
The mission also called on the Speaker of the Parliament in Kuwait and asked for his help on cooperation between Korea and Kuwait on the development of new cities. Kuwait is also planning to build a new oil refinery at a cost of $13 billion.
Korean firms clinched $700 billion worth of construction projects overseas since 1965 when Korean. The Great Waterway Project in Libya was the largest project that Korean builders ever won overseas. The 1984 project came with a $10.6 billion price tag.
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