Guatemala Sells Railway to Koreans

Representatives from the Korean companies Hyundai and Yoochang have announced an agreement with the current owner of the Railroad Development Corporation, and a total investment of $2,400 million.

Thursday, May 19, 2011

The Korean companies Hyundai and Yoochang Corporation plan to invest in restoring the functioning of the railway linking the Pacific and Atlantic coasts , to create a land alternative to the Panama Canal.

The Korean project will include an additional 600 km branch to connect with the port of Puerto Cutuco in El Salvador.

According to an article by Uriah Gamarro in Prensalibre.com, “Hyundai Corporation and Yoochang together form a conglomerate of public companies in Korea who operate services such as rail, shipping, port and airports operations, and automobiles and boat manufacturing."

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