seoul metro line 9 project - state institute for urban ...siudmysore.gov.in/utdetails/day4.pdf ·...
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Seoul Metro Line 9 Project
Hojun Lee ([email protected])
Public and Private Infrastructure Investment Management Center (PIMAC)
Korea Development Institute (KDI)
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Operation Summary
1st Phase 1st step (1 depot, 25stations, 25.5km)2nd phase
[※ Further construction near future]
- 1st phase 2nd step(Expected in 2013) : 4.5km, 5stations
- 2nd phase (Expected in 2015) : 8.0km, 7stations
1st phase
2nd step
Map of Seoul Metro Line No. 9
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Seoul Metro Line 9 Project Summary
Route (Phase I)
Gimpo Airport~Gangnam (25.5km, 25stations & 1 Depot) (Phase II: 12km, 12stn)
Budget (Phase I & II)
Construction Period (Phase I, Step I)
May 2004 ~ April 2009 (5 years)
Type of Project
Korea’s First Private Investment Metro Project under BTO scheme
(under 30 year concession agreement )
Details of Work Scope for private SPC
Design & Construction, E&M, Test & Commissioning, Operation & Maintenance
USD 4.5Bil. Civil by SMG, USD 1.2Bil.(E&M+O&M) by Private SPC
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Background for Private Investment Project
Debt in 1999 (Seoul Metropolitan Government)
→ Requires new approach for future subway construction
→ Private Capital Inducement
Total Debt of Seoul
Metropolitan Government
Debt related to Subway
(construction + operation)
5,560 4,846 (87.15%)
(Unit: billion won)
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Decision of Scope for Private Capital
Inducement
Public Sector Private Sector
Full Private Capital
Inducement
every construction
and operation
Partial Private
Capital Inducement
construction of
lower structure
construction of
upper structure and
operation
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Public Support Strategy for Private
Investment Project
In case of partial private capital inducement with
upper-and-lower divided structure
The public supports fixed rate of cost about rolling
stock, system, building, and supplementary in the
construction period of upper structure.
The private constructs upper structure, and the public
provides subsidy in operation period.
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Final Layout of Seoul Metro Line 9Project
Total Project Cost (2,416)
Lower Structure (1,566) Upper Structure (850)
substructure
( site preparation and ground
consolidation work for depot )
rolling stock, system, station construction
work, track work, depot, traffic control center, etc.
Public (100%) Public (31.7%) Private (68.3%)
1,566 356 494
Total Public Cost (80%) : 1,922Total Private Cost (20%) :
494
(Unit: billion won)
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BTO Model
Forming a consortium to respond to the very first
public-private partnership metro project
Investment scheme
SMG : infrastructure (civil engineering)
Private consortium :
financing of system,
Station construction,
Rolling stock, E&M (Electrical and Mechanical),
provision of O&M (Operations and Maintenance)
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BTO Contractual Framework
Seoul Metropolitan Government
Seoul Metro Line 9 (SPC)
CI (51%) FI (49%)
Implementation Agreement
EPC Contract
Construction Committee
Project Manager
Lender
Loan Agreement
O&M contract
O&M Company
Seoul Line 9
O&M contract approbation
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Cooperative Structure of Line No.9
Maintenance of Cars and Cleaning Services
In charge of Line9’s Operation & Maintenance
Revenue & Facility Management
O&M Agreement
(29th Jun. 2007)
VTK 80% Rotem 20%
Maintenance Agreement
(29th Jun. 2007)
Concession Agreement(16th May 2005)
Approval of SL9(20th Apr. 2009)
VTK 20% Rotem 80%
Shareholder Agreement& Partnership Agreement
(29th Jun.2007)
Rotem 25% & 13Companies
SMG
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History of Line No.9
Operation &Maintenance agreement b/w. SML9 – SL9
SMG’s approval to SL9 as a Line No.9’s operator
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Ridership 2009
July
(24 ~31 )
August
(1~31)
September
(1~30 )
October
(1~31)
November
(1~30 )
December
(1~31)
(단위 : 명)
※ Average Number of Daily Passengers (2009) : 214,623 passengers
Number of Runs Operation Distance
(km)
On -Time Rate
(%)Sum Express General
57,206 17,750 39,456 1,467,464.5 100
( ’09.7.24~12.31)
※ On-Time Rate(%) : (Number of Runs – Number of Delayed Runs(more than 10 min.) / Number of Runs * 100
Train operation
Passengers
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Essentials
Metro 9 Current operators
Organization Customer-oriented Production and staff-oriented
Productivity ~30 staff/km Over 50 staff/km
Service express & all stop All stop
HR PolicyPromotion based on performance &
seniorityPromotion based on seniority
Ticket booth At convenience store Ticket booths with full staff
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Conclusion: Why a private operator?
Because competition creates incentives to performance & productivity
To have a professional taking charge of the O&M risks
To benefit from the diversity of expertise of a worldwide operator
To ensure transparent relationships between the partners
To control the evolution of costs and to have a long-term visibility on
the required payments
To improve the image and quality of service and to increase patronage
To have targeted and responsive solutions to passengers’ needs and
expectations
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