[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Du-yeol] Busan Port Authority (BPA) signed a "Public-Private Sector Business Agreement for the Efficient Promotion of Port Construction Projects" with Shinhang Development Co., Ltd., the developer of the Changwon Angol General Industrial Complex Development Project, on the 1st.
The purpose of the agreement is to establish a cooperative system for mutual win-win by efficiently supplying the aggregates necessary for the construction projects of Jinhae New Port and Busan New Port through proactive administration in the public sector.
The main contents of the agreement include ▲ prioritizing the supply of soil generated from the Angol General Industrial Complex Development Project, where soil disposal is urgent, to the Busan Port New Port South 'Con' Port Hinterland Complex construction ▲ cooperation in sharing and exchanging information such as timing and volume of aggregate shipments generated from the BPA-implemented North 'Con' Phase 2 Port Hinterland Complex construction and private projects.
It also includes efforts to use part of the profits from the Angol General Industrial Complex Development Project for the welfare and environmental improvement of nearby residents to carry out development projects in harmony with the local community.
The agreement was promoted to resolve difficulties raised by the Angol Industrial Complex developer at the BPA regulatory reform platform, the Corporate Growth Response Center, through flexible and proactive field-centered administration by Busan Port Authority.
Through the agreement, Shinhang Development Co., Ltd. can resolve the urgent difficulty of disposing approximately 500,000㎥ of soil generated during the construction process to smoothly promote the Angol General Industrial Complex development.
BPA is also expected to save about 770 million KRW in budget by utilizing the soil as earth material necessary for port construction, creating a mutually WIN-WIN cooperation model.
Kang Jun-seok, President of BPA, said, “We will lead efforts to support private sector innovative growth through proactive administration by listening to the diverse voices of port development project stakeholders and implement the principles of national interest and practicality in government administration.”
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