Korea-Vietnam PPP Fair 2007
Principle of PPI Projects of Korea :
Mokpo Newport Project
Presented by
Halla Engineering & Construction Corp.
Park, Sang-Ho
PFI Business Department / General Manager
Location Map
Project Profile
• Project Name
: Mokpo New Multipurpose Port Project
• Location : Area of Heosa Island, Mokpo City, Jeollanam-do Province, South Korea
• Main Facilities :
- Simultaneous berthing capacity for 3 Panamax Class (50,000DWT) Ships
(250mX400mX3berths)
- 600,000㎡ Business & Residential area
- Operation Building, Labour’s Building, CFS, CIS, Refrigerated
Container Storage yard etc.
- Mobile Harbor cranes/Reach Stackers/Side Pickers/Fork Lifts/Trailers etc.
• Business Scheme : BTO (Build-Transfer-Operate)
• Type of Concession & Concession Period : Port- Operation Right, 50Years
• Construction Period : 2001. 1 ~ 2004. 5 (40 Months)
• Operation Period
: 2004. 6 ~ 2054. 5 (50 Years)
Project Background / History
• 1995. 03. Noticed the selection of Mokpo New Multipurpose Port Project for
PPI (Private Participation in Infrastructure) Project
• 1995. 12. Noticed RFP (Request for Proposal) for this PPI Project
• 1996. 03. Submitted Project Proposal
• 1996. 04. Be Selected as preferred bidder
• 1997. 07. Concluded the Concession Agreement
• 1998. 12. Revised The Act on PPI
• 1999. 04. Revised Enforcement Decree of The Act on PPI
• 2000. 12. Modified The Concession Agreement according to the revised Act
and be designated as concessionaire
Submitted Detailed Plan and gained approval
• 2001. 01. Started construction
• 2004. 06. Commenced operation
Project Viability
• Project Cost : KRW 164billion(2000.1.1 real price)
- USD164 Million [ 1USD=1,000KRW]
- Excluding Land acquisition cost
• Financial Feasibility
- IRR : 9.62%(Real)
• Financing Structure
- Equity : KRW 34.3 billion (USD 34.3 Million)
- Debt : KRW 75.0 billion (USD 75.0 Million)
- Government subsidy : KRW 54.7 billion (USD 54.7Million)
• Government Support
- Land acquisition
- MRG (Minimum Revenue Guarantee)
- Access Road / Power Supply / Water Supply Facilities etc.
Project Viability
• Demand Profile
Classification
Container
(Thousand TEU)
General Cargo
(Thousand Revenue Ton)
Remarks
2004~2007
26~84
860~1,325
Ramp Up
2008~2030
100~359
1,238~6
2031~2054
360
0
• Status of Treatment
(Unit : TEU, RT)
2004
2005
2006
Classification
Target
Result
Target
Result
Target
Result
Container
26,000
0
43,000
1,268
71,000
1,496
General Cargo
860,000
345,595
1,065,000
1,574,900
1,331,000
2,486,072
Project Process
• Work Process
- 2001. 1 Groundbreaking
- 2001. 3 Started Site Clearance & Land Fill, Banking Work
- 2001. 9 Set the First Quay Caisson
- 2002. 8 Finished Caisson Work
- 2003. 2 Started Building Work
- 2003. 8 Started Yard Pavement Work
- 2004. 5 Completed Construction
- 2004. 6 Commenced Operation
Project Process
Project Process
Current status of the Project
Main Issues
• Main Contents
• Main Contents