SK ecoplant Opens Big Almaty Ring Road

Minister Marat Karabayev of Industry and Infrastructure Development of Kazakhstan and President Jo Jung-shik of the Eco Solution Business at SK ecoplant attend a ceremony for the opening of the Big Almaty Ring Road, the first ring road of the Almaty area of Kazakhstan, on June 16.

SK ecoplant has proved its ability to demonstrate its capability in global infrastructure business to the world.

The Big Almaty Ring Road, the first ring road of the Almaty area of Kazakhstan, was opened to traffic on June 16, SK ecoplant said.

The ring road, also known as “KAKAD” in Russian, takes on a great significance as it has been successfully implemented under Kazakhstan’s first public-private partnership.

Among those on hand at an opening ceremony held in Almaty were Minister Marat Karabayev of Industry and Infrastructure Development of Kazakhstan, President Jo Jung-shik of the Eco Solution Business Unit at SK ecoplant, and representatives from government and business circles of the two countries.

The Big Almaty Ring Road, stretching 66 km in length, has four to six lanes. The total cost of the project stands at $740 million, and construction costs $540 million.

A whole view of an interchange of the Big Almaty Ring Road.

SK ecoplant formed a consortium with Korea Expressway Corp and two Turkish construction companies Alsim Alarko - Makyol and implemented the project.

Korea Overseas Infrastructure & Urban Development Corp. also participated in investments into the project.

In particular, the project is based on a BOT, public-private partnership, so SK ecoplant will be responsible for the operation of the ring road in cooperation with Korea Expressway Corp. for 16 years.

The project adopts the availability payment (AP) method in which the Kazakhstani government guarantees fixed revenues regardless of traffic volume, so the operation of the ring road is to be stabilized.

The ring road project is designed to mitigate traffic congestion in Almaty, Kazakhstan’s biggest city. Easing traffic congestion and improved infrastructure in neighborhood areas along the road are expected to have a good impact on the national economy of the country.

The application of the intelligent transportation points system at tollgates allows unmanned toll collection for the efficient operation of the road.

SK ecoplant has a track record of implementing a multitude of overseas PPP projects. The company has been implementing PPP projects by participating in fundraising and equity investment beyond the conventional EPC method and securing operation revenues.

Earlier, SK ecoplant had successfully completed a Eurasian undersea tunnel and Çanakkale Bridge in Turkey.

The company is participating in a project to build a silver town tunnel passing underground parts of the Thames River of the UK.

Last year, SK ecoplant launched a project to build “Rv555 The Sotra Connection” expressway in Norway, the European country’s biggest-ever project.

President Jo Jung-shik of the Eco Solution Business Unit at SK ecoplant said, “I’m pleased to have SK ecoplant’s high technology and construction capabilities recognized to the world by landing of a largest overseas project again following the Eurasian tunnel and Çanakkale Bridge projects.”

Cho said SK ecoplant will create additional opportunities to land overseas project orders based on PPP experiences the company has implemented in several nations, including European and Asian countries.

President & CEO Park Kyung-il of SK ecoplant gives his inaugural speech as he took office as the 6th chairman of Korea Wind Energy Industry Association at the association’s first regular general meeting for 2023 at Seoul Grand InterContinental Hotel on April 21. (Photos: SK ecoplant)

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