Construction of Incheon Bridge to begin immediately.
Amec has finalised an £800m PPP contract to finance, design, build and maintain the Incheon Bridge in South Korea. It says it expects to reach financial close on the deal by the end of the month.
The bridge, one of the longest in the world, will be designed and constructed by Samsung Corporation Joint Venture, and is due to be completed by 2009. Work is due to start immediately.
AMEC says that the scheme will give it a long-term income stream. Sir Peter Mason, chief executive of AMEC said: “We are delighted that AMEC has been able to bring together its expertise in PPP and its ability to manage and operate projects overseas to deliver this landmark development.
"It will provide AMEC with multiple income streams and an attractive return on investment, in addition to positioning AMEC to benefit as more governments examine the best way to provide public infrastructure and services."
