The Korea National Railway (KNR) has won a railway improvement supervision contract in Peru, taking first place with perfect scores in both technical and price categories against global railway powerhouses including Spain and Japan.
KNR announced Tuesday that it has been selected as the final contractor for the "Peru Huancayo-Huancavelica Railway Improvement Design Review and Construction Supervision" project, worth approximately $13 million (about 19.2 billion won), ordered by Peru's Transport Infrastructure Investment Supervisory Agency.
The project aims to modernize a 128.7-kilometer aging line that runs through the high-altitude Andes region (above 3,600 meters above sea level) in central Peru. KNR will form a global consortium with domestic engineering firms and local companies to carry out supervision work across the construction and operation phases for approximately five years.
Building on this contract win, KNR plans to support Korean railway companies' entry into the Peruvian market and expand its share of Latin American railway infrastructure markets, including El Salvador, Panama, and Colombia.
"This is a remarkable achievement that once again proves the excellent technological capabilities of K-Railway after a head-to-head battle with global railway leaders," said Lee An-ho, acting chairman of the Korea National Railway. "We will lead the global market together with our companies."
