Macquarie Korea Infrastructure Fund

Incheon Grand Bridge


Incheon Grand Bridge

The longest bridge in Korea that connects Seoul and Incheon International Airport.

Asset overview

Incheon Grand Bridge is a 12.3 km, dual three-lane tolled bridge connecting Incheon International Airport to the newly developed commercial area of New Songdo International District in Incheon City. Construction began in July 2005 and completed in October 2009 as originally scheduled. Incheon Grand Bridge is the longest bridge in Korea and the fifth-longest cable-stayed bridge in the world.

Investment details

MKIF has invested in Incheon Bridge Co., Ltd. (“IBC”), the concessionaire of Incheon Grand Bridge. As of the record date, MKIF is a 64.05% shareholder of IBC, and MKIF’s total investment amount is KRW 295.4 billion(equity KRW 54.4 billion and subordinated loan KRW 241.0 billion).

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Concession agreement  
Government authority Ministry of Land, Infrastructure and Transport
Concession term 30 years
Guarantee duration 15 years
Concession term commencement October 2009
Minimum Guarantee 80% of annual CA projected revenue
Revenue Cap 120% of annual CA projected revenue
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Length 12.3 km
Capacity Dual three-lane in both directions

Asset location