The Ministry of Infrastructure (MININFRA) has entered into a partnership with a Korean company, Woolim E &C, to mobilize local as well as South Korean resources to establish a long-term comprehensive collaboration in infrastructural development.
The Chief Executive of Woomlin E& C, which is also known as Infrastructure Development Fund Ltd, recently signed an Memorandum of Understanding (MoU) with Infrastructure Minister, Vincent Karega.
According to the ministry, the overall objective of the agreement is to create one of Africa’s most advanced infrastructure in Rwanda, through the facilitation and implementation of advanced design and constructions.
Speaking in a phone interview yesterday, Karega said that the agreement will tackle the development of several sectors that include livestock industry, roads, water, energy and housing.
“They also include general construction and real estate development projects and any government related infrastructure development projects. The partnership will certainly solidify Rwanda’s overall infrastructure sustainability,” Karega said.
“This MoU defines the responsibilities of the Government through MININFRA and those of Infrastructure Development Fund Ltd.”
The three-phase project, according to MININFRA, will be executed within a period of seven years, of which; the first year will be spent identifying and prioritizing key infrastructure needs.
“The next five years will be spent on designing and construction of key-infrastructure projects as well as technology transfer and capacity-building,” a statement from MININFRA states.
“The final year will be spent on the implementation and integration of overall infrastructure development.”
Woolim E&C Co., Ltd. is a South Korean company that engages in real estate development, construction, civil engineering services and natural resources businesses in South Korea and internationally.