The South Korean government said Monday that it has approved road-construction projects valued 2.7 trillion won (2.1 billion U.S. dollars) over the next five years in a bid to bolster slumping domestic demand.
The investment will be used to construct three separate roads, whose combined length will be 130.3 km, by 2014, the Ministry of Strategy and Finance said.
The projects will also involve private investment and are intended to bolster the nation's rapidly declining domestic demand, it said.
Civilian participation will be made through a build-transfer-operate method, under which private builders construct public facilities at their own expense and operate them for profit, with ownership transferred to the government after a given period, the ministry said.
Source: Xinhua
|
Comment
Tell A Friend
Print Format
Save Article