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.
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 firms Hyundai Corporation and Sha Yu have shown interest in acquiring a stake in the railroad business.
Guillermo Porras of The Attorney General's Office, said that in the course of this month a delegation from the Hyundai company will arrive for a fact finding mission and to learn about the state of the petition for arbitration that the Railroad Development Corporation (RDC), railways beneficiary, has brought against the Government of Guatemala.
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