Macquarie Korea Infrastructure Fund
Assets
Construction of the 1.7 km, dual two-lane, cable-stayed Machang Bridge commenced in April 2004 and completed in 2008. The bridge provides a vital link across Masan Bay and alleviates severe traffic congestion in the cities of Masan and Changwon as an alternative route between Korea’s two southern provinces, Jeollanam-do and Gyeongsangnam-do.
MKIF has invested in MCB Co., Ltd. (“MCB”), the concessionaire of Machang Bridge. As of the record date, MKIF is a 70.0% shareholder of MCB, and MKIF’s total investment amount is KRW 112.8 billion (equity KRW 33.8 billion and subordinated loan KRW 79.0 billion).
| Concession agreement | |
| Government authority | Gyeongsang Namdo Government |
| Concession term | 30 years |
| Guarantee duration | 30 years |
| Concession term commencement | July 2008 |
| Minimum Guarantee | 75.78% of annual CA projected revenue |
| Revenue Cap | 100% of annual CA projected revenue |
*50:50 revenue sharing with the relevant authority in excess of expected revenue at 100% level
| Facilities | |
| Length | 1.7 km |
| Capacity | Dual two-lane in both directions |
