AMEC consortium celebrates Incheon Bridge grand opening

15/10/2009


London, United Kingdom (16 October 2009) "- AMEC plc, the international engineering and project management company, and the Incheon Bridge Company (IBC), a consortium between AMEC and Incheon City in South Korea, backed by Australian infrastructure specialist Macquarie and Korean banks IBK and Kookmin, today celebrated the grand opening of the £1 billion, 12.3 km Incheon Bridge, the longest spanning cable-stay bridge in Korea and a landmark project management achievement.

As part of the inauguration ceremony, AMEC Chief Executive Samir Brikho was presented with the Medal of Honour for Industrial Service by South Korean President Myung-bak Lee for his contributions to enhance the economic competitiveness in Korea through the successful completion of the Incheon Bridge project. This is the first time a foreigner has been recognised by South Korea in this way.

As well as being a shareholder in IBC, AMEC was the project manager during the implementation phase of the project, which began in 2005 and was completed on schedule and within budget in October 2009.
"AMEC's leading project management skills and the use of the first foreign-led Public Private Partnership contract structure in Korea have been key in delivering a world-class facility," said Soo-Hong Kim, Incheon Bridge Company President and CEO of AMEC Korea. "The project demonstrates the potential for successful collaboration between AMEC and its Korean partners on future business ventures, particularly in the strategically important energy sector."

Samir Brikho, AMEC Chief Executive said: "I am delighted to receive this honour from President Lee. With our newly established joint venture company, AMEC Partners Korea, we look forward to developing energy opportunities together as well as playing an important role in expanding and improving Korea's engineering and project management consultancy skill base."

The world-class, state-of-the-art Incheon Bridge provides a vital economic link between the Incheon International Airport on the island of YeongJong, and Songdo, a new free economic zone on the edge of Incheon city that is already expanding quickly. Motorists will now be able to reach the airport from Songdo in about 20 minutes, cutting the previous travel time by two thirds.

AMEC has worked in South Korea since 1999. In April 2009, AMEC, the Korea Electric Power Corporation (KEPCO), the Korea Gas Corporation (KOGAS) and the Korea Development Bank (KDB) formed a joint venture company to develop energy-related business opportunities and projects in South Korea and internationally.

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