Special Legislative Bill for Light Rail Transit Project in Asuncion passed by the Senate of Paraguay securing the first Korean investment and development in overseas railway projects
The Ministry of Land, Infrastructure and Transport (MOLIT, Minister WON Hee-ryong) announced on 2 December that the special legislative bill for the Light Rail Transit Project in Asuncion, Paraguay (hereinafter referred to as ‘the Project’), which is being pursued by a Korean consortium, was approved by the Senate of Paraguay on Thu. 1 December local time.
The special legislative bill is supposed to be reviewed later by the House of Representatives and put to a vote to be enacted into the law through a presidential promulgation if its approval made.
It includes cooperation fields in financing for smooth operation of the Project between the Paraguayan government and the Korean consortium, and on legal grounds for the Korean consortium to be guaranteed with project rights from the ordering body. The contract of the Project will be confirmed by concluding an executed agreement in the future.
Please refer to the attached file or the preview for more details.