Investment of 314 Billion KRW, New 5.77 km Total Length 4-Lane Two-Way Road Construction
The groundbreaking ceremony for the construction project of Local Road No. 58 between Songjeong Interchange and Mundong in Geoje-si, Gyeongnam, will be held on the 23rd.
[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Seryeong] Geoje City, Gyeongnam Province, plans to hold a groundbreaking ceremony for the construction project of Local Road No. 58 between Songjeong Interchange and Mundong on the 23rd.
The construction project of Local Road No. 58 between Songjeong Interchange and Mundong was initiated to alleviate chronic traffic congestion in downtown areas such as Gohyeon and Jangpyeong-dong, which increased after the opening of Geogadaero connecting Geoje and Busan in 2010.
With a project cost of 314 billion KRW, a total length of 5.77 km will be newly constructed as a four-lane road, including 10 bridges spanning 1.67 km and 4 tunnels spanning 4.2 km, connecting Songjeong Interchange in Yeoncho-myeon to National Road No. 14 in Mundong-dong.
The city began negotiations for compensation for expropriated land and other losses in June 2020, and as of March 2022, about 82% of the compensation amount has been agreed upon, with 169 out of 272 expropriated land parcels compensated.
In February, a contract was signed with the Kolon Global consortium, and construction is planned to be completed by February 2029 after commencement.
A city official stated, “This project will greatly help alleviate traffic congestion in the central Geoje area and improve accessibility to Geoje East-West Road, promoting development in the underdeveloped southwestern region. We will actively work to secure national and provincial budgets to ensure smooth progress without setbacks.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
