Pyeongtaek-Siheung Expressway to be expanded to up to 8 lanes with a target opening date of 2033
Due to traffic congestion in the southwestern part of the metropolitan area and increased industrial cargo volume, the Pyeongtaek-Siheung Expressway, currently operated as a 4-lane round trip, will be expanded to 6-8 lanes by 2033.
The Ministry of Land, Infrastructure and Transport announced on the 24th that it will hold a third-party proposal notice from the 25th to November 24th to select a project operator to implement the Pyeongtaek-Siheung Expressway expansion private investment project.
This project is a project to expand a 36.4km section of the current 42.6km total length of the Pyeongtaek-Siheung Expressway from the existing 4-lane round trip to 6-8 lanes round trip.
This project is being promoted to reduce traffic congestion in the southwestern part of the metropolitan area by expanding the capacity of the Pyeongtaek-Siheung Expressway, which plays a pivotal role in the logistics network, and to respond to future traffic demand such as Songsan Green City and the increase in industrial cargo volume at Incheon Port and Pyeongtaek-Dangjin Port.
In particular, this project is the first plan for an improved operation-type private investment project that expands existing facilities and integrates operation of existing facilities.
In the past, only facilities whose management and operation period had ended could be promoted as an improved operation-type project, but the system was improved in October of last year so that facilities in operation could also be promoted as an improved operation-type project.
Starting with this project, it is expected that improved operation-type private investment projects will be activated in the future and will also contribute to preemptive responses to aging and congested facilities.
In the future, after a third-party proposal announcement, the preferred negotiating party will be selected in January of next year, and the project will be promoted with the goal of starting construction in the second half of 2028 and opening by the end of 2033.
The Director of the Ministry of Land, Infrastructure and Transport’s Road Bureau said, “The Pyeongtaek-Siheung Expressway expansion private investment project is expected to improve traffic congestion in the southwestern part of the metropolitan area and greatly contribute to the development of the regional economy, industry and logistics.” He continued, “In particular, the project is the first private investment project for improvement and operation, and we plan to actively discover and promote improvement and operation projects in the future to diversify private investment road projects that have been focused on new construction and to revitalize private investment projects.”
[Editor Lee]
