KBI Construction Joins Consortium by Winning 'Dongbu Expressway Underground Project'

A consortium including KBI Construction recently announced on the 26th that it has won the bid for the 'Dongbu Expressway Underground Project.'

KBI Construction CI / Image provided by KBI Construction

This is a private investment project to construct a 10.4 km long, four-lane underground deep tunnel road from Cheongdam-dong, Gangnam-gu, Seoul (south end of Yeongdong Bridge) to Seokgwan-dong, Seongbuk-gu. The total project cost is approximately 1.2 trillion KRW. The project will be carried out as a Build-Transfer-Operate (BTO) type private investment project, where the private developer directly constructs the facility, transfers ownership to the government and local authorities (donation), and then operates it for a certain period to recover the investment.

Construction is scheduled to begin in the second half of this year, with completion expected in 2029. Once the underground road is completed, travel time between the southeast and northeast areas is expected to be reduced from the current 30 minutes to about 10 minutes.

Jin Gwang-woo, CEO of KBI Construction, said, "The Dongbu Expressway, mainly used when traveling from the northeastern districts of Seoul such as Dobong and Nowon towards Gangnam, suffers from severe traffic congestion. We will adhere to the schedule and ensure safe construction to help reduce residents' travel time."