By Lee Hyo-sik
Korea is seeking to export its knowhow and expertise on reclaiming tidal flats and turning them into residential and industrial zones to India, a plan that could bring nearly $10 billion into the country.
The Korea Rural Community Corp. (KRC), which undertook the Saemangeum project, said Monday that it will take all possible measures to secure a $10 billion project to reclaim land from the sea in Gujarat Province, Northwestern India.
The scheme will construct a 34-kilometer-long seawall and reclaim tens of thousands of hectares of new land.
In 2009, the state-run rural development agency made a bid for the project but decided not to pursue it, citing its low profitability. But now KRC thinks it can make money if it receives funds from the envisioned China-led Asia Infrastructure Investment Bank for implementing the reclamation work.
Things will likely turn more favorable for KRC because Indian Prime Minister Narendra Modi is scheduled to visit Korea as early as May to discuss a wide range of economic issues with President Park Geun-hye.
"We are pushing again to win the right to conduct the Kalpasar Project," a KRC official said. "Besides India, we are trying to make inroads into Thailand, Myanmar, Indonesia and other Southeast Asian nations seeking to reclaim land from the sea against rising sea levels."
The official said KRC will make more efforts to share its knowhow and expertise it learned from the Saemangeum project with India, Southeast Asia and other developing countries.
Korea spent around 3 trillion won ($2.8 billion) from 1991 to build the 33.9-kilometer-long seawall, and reclaim 40,100 hectares of new land and create a freshwater lake, in southwestern North Jeolla Province.
Korea is seeking to export its knowhow and expertise on reclaiming tidal flats and turning them into residential and industrial zones to India, a plan that could bring nearly $10 billion into the country.
The Korea Rural Community Corp. (KRC), which undertook the Saemangeum project, said Monday that it will take all possible measures to secure a $10 billion project to reclaim land from the sea in Gujarat Province, Northwestern India.
The scheme will construct a 34-kilometer-long seawall and reclaim tens of thousands of hectares of new land.
In 2009, the state-run rural development agency made a bid for the project but decided not to pursue it, citing its low profitability. But now KRC thinks it can make money if it receives funds from the envisioned China-led Asia Infrastructure Investment Bank for implementing the reclamation work.
Things will likely turn more favorable for KRC because Indian Prime Minister Narendra Modi is scheduled to visit Korea as early as May to discuss a wide range of economic issues with President Park Geun-hye.
"We are pushing again to win the right to conduct the Kalpasar Project," a KRC official said. "Besides India, we are trying to make inroads into Thailand, Myanmar, Indonesia and other Southeast Asian nations seeking to reclaim land from the sea against rising sea levels."
The official said KRC will make more efforts to share its knowhow and expertise it learned from the Saemangeum project with India, Southeast Asia and other developing countries.
Korea spent around 3 trillion won ($2.8 billion) from 1991 to build the 33.9-kilometer-long seawall, and reclaim 40,100 hectares of new land and create a freshwater lake, in southwestern North Jeolla Province.
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