South Korea is to submit a Final Commuter Rail Proposal to the Paraguayan Government by Nov. 20, Ferrocarriles del Paraguay SA (Fepasa) CEO Lauro Ramírez announced Wednesday. The new commuter train line will link Asunción to Ypacaraí.
Ramírez's words came after Oh Seong-Ik, an envoy from South Korea's Ministry of Land, Infrastructure and Transport, briefed President Mario Abdo Benítez on the project.
After the feasibility study, South Korean technicians are now finalizing the proposal due Nov. 20 and which will then be sent to Congress for approval.
Ramírez also explained the final cost is yet to be determined but did admit, however, that it was believed to be around US $ 440 million, with a 15-year grace period to start paying, and that finally, the government-to-government agreement will grant Paraguay financial conditions which are not otherwise available.
The Paraguayan official also highlighted the proposed train line's environmental advantages, while the South Korean envoy told the media that they are within reach of finalizing the proposal.
We will be delivering the proposal by November 20 and we hope that the Paraguayan people are interested in the project and that it will be the return of the train, he remarked.
The Asian official also explained that the project would be a source of employment in addition to its environmental features while providing a solution to Asunción's traffic problems.
The fast commuter train line is planned to be 44 kilometres long from Ypacarai to Parque Caballero in Asunción. The initial stage will be between Asunción and Luque and the full project is expected to take five years to complete.