CHUNGCHEONGBUK-DO < invest Korea

According to Yonhap News,

The construction for Jeungpyeong 2 General Industrial Complex in Noam-ri, Doan-myeon, Jeungpyeong-gun will begin in earnest.

According to Jeungpyeong-gun on March 15th, Kyeryong Construction Industrial, selected as a private developer of the complex, submitted an application for approval to carry out the construction at the Provincial office.

Kyeryong Construction Industrial plans to invest KRW 112.8 billion (the state and provincial fund of KRW 30 billion and the private fund of KRW 82.8 billion) to develop a complex specialized in photovoltaic components on the area of 707,000 m².

The complex was designated on November 20th, but its construction has been delayed because of the controversy over Sejong City, the downturn of construction industry, and worsening financial conditions. Kyeryong Construction Industrial selected a service company for construction drawings and completed detailed design last November.

Jeungpyeong-gun plans to hold a joint briefing session on the construction late this month. Also, it will establish a corporation and conduct real estate appraisal in May and provide compensation for the land in September after the approval for the construction is announced in April. The construction will begin in November and be finished by late 2013.

Jeungpyeong is now committed to securing the state fund in order to establish access roads, waste water treatment facilities, and industrial water supply system before the industrial complex is completed.

Source Text

Source: Yonhap News (March 15, 2011)

**This is an English translation of a Korean news article.