The Ministry of Land, Transport and Maritime Affairs (MLTM) announced on April 16 that it discussed with Qatar Investment Authority the joint investment of Qatar wealth fund, Global Infra Fund and Korean construction companies (Samsung C&T and Hyundai E&C) in Ghana’s west corridor road project and Indonesia’s coal terminal project.

The Ministry had a meeting with the officials from Qatar Investment Authority last March and agreed to make joint investment in overseas projects identified by Korean companies.

As a follow-up measure, both sides agreed to sign the MOU for joint investment in third countries’ projects around May, and Qatar Investment Authority will review the two projects presented by Samsung C&T and Hyundai E&C as exemplary projects for joint investment.

It is expected that the signing of the MOU will lay strong foundation for attracting investment of Middle East’s abundant national wealth fund and expanding the scope of overseas construction business from Engineering, Procurement and Construction (EPC) into financial investment in diverse infrastructure projects.

Also, the Ministry agreed with UAE to discuss ways of joint investment in third countries’ projects.

Deputy Minister, Kyung Sik Kim, for Construction and Water Resources Policy of MLTM says "the Korean side had meetings with UAE’s national wealth funds, which hold around 700 billion dollars, such as Invest AD, Mubadala and IPIC on April 17 and reached a basic agreement on finding ways of joint investment in third nations.

In addition, the Ministry had a meeting with Qatar’s Public Works Authority to ask its support to Korean companies so that they can participate in Doha Bay Crossing (6 billion dollars) and Inner-Doha Re-sewerage implementation projects, which will be put out to tender soon. Accordingly, the chairman of Public Works Authority highly appreciated Korean companies’ capacity and promised to support their participation in the projects.

The deputy Minister also had a meeting with Department of Transport of Abu Dhabi (Executive Director for Road Transport and Executive Director for Aviation) to help Korean companies win the bids for Abu Dhabi Airport expansion project (3 billion dollars) and Metro project (7 billion dollars).