RU
RU KZ EN
-25°
-25°C
mostly clear
Almaty Astana Aktau Aktobe Atyrau Zhezkazgan Karaganda Kokshetau Kostanai Kyzylorda Pavlodar Petropavlovsk Semipalatinsk Taldykorgan Taraz Turkestan Uralsk Ust'-Kamenogors Chimkent
Exchange rate
USD / 184.45
EUR / 208.19
RUR / 2.67
CNY / 29.54
Contacts
Contact us +7 (727) 388 8020 +7 (717) 254 2710
Weather in city
KZ RU EN
Contact us +7 (727) 388 8020 +7 (717) 254 2710
  • USD / KZT - 184.45
  • EUR / KZT - 208.19
  • RUR / KZT - 2.67
Almaty Astana Aktau Aktobe Atyrau Zhezkazgan Karaganda Kokshetau Kostanai Kyzylorda Pavlodar Petropavlovsk Semipalatinsk Taldykorgan Taraz Turkestan Uralsk Ust'-Kamenogors Chimkent Tengri FM 107.5 Friday, 30.01.2015
-25 °C
mostly clear
Hot news: EU to expand Russia blacklist, ready for more measures over Ukraine Extremists from Kyrgyzstan see new opportunities in Kazakhstan and Eurasian Union Vinokourov presents Astana Pro Team yellow jersey to Kazakh President Extradite or prosecute: Deputy Prosecutor General of Kazakhstan on Ablyazov's case Golovkin to hold next fight in USA: Tom Loeffler Kazakhstan's environmental standards for TPP three times behind Europe Apple ties with Samsung as world's top smartphone vendor Second grader in hijab erupts controversy in Kazakhstan Obama to request hike in US military budget: officials Russia's Gazprom profits plunge 61%, hit by Ukraine row Sundance filmmaker turns focus on Mormon offshoot Poroshenko and US press Putin on Ukraine violence IMF begins work on 'Plan B' as US blocks reforms McDonald's CEO pays price for growing woes US 'monitoring closely' as new Greek PM shakes up policies Hollande urges Turkey to 'break taboos' on Armenia WWI killings Bulat Ayukhanov's dance company presents Triumph of Russian Ballet on February 5 Prime-Ministers of Russia and Kazakhstan in talks It will take 5-6 years for Kazakhstanis to stop quoting domestic prices in the US Dollar Amal Clooney in court to condemn Armenia genocide-denier Greece-EU clash spreads to Russia sanctions Kazakh-Spanish trains to become more comfortable Kazakhstan gets 2 gold and 1 silver at Winter Universiade Astana Ballet presents three centuries of classic choreography Kazakhstan's beauty fails to enter Miss Universe final India sends foreign minister to China after Obama visit 'I'm not an enemy': Moscow exhibit showcases Gulag letters Yahoo announces tax-free spinoff of Alibaba stake Brazil's Rousseff backs austerity and ending corruption Apple profit hits new high on rocketing iPhone sales Benedict Cumberbatch sorry for 'colored' remark Mexico 'certain' that missing students dead: minister Taylor Swift shakes off hacking on social media Kazakhstan’s Central Bank buying out all gold produced Pope opens doors to transsexual dubbed 'devil's daughter': report Putin lauds Soviet army at Moscow's Auschwitz ceremony Snakes 70 million years older than thought: study Moscow blasts US spy arrest as part of 'anti-Russian campaign' OSCE calls on Armenia, Azerbaijan to cease hostilities More than 1,000 children living rough in Donetsk Obama issues warning on Auschwitz anniversary Five fights in 2015: Kanat Islam means business Maria Mudryak mulls solo concert in Kazakhstan US says looking to work closely with Greek poll winners Sony delays earnings after 'The Interview' cyberattack EU to consider new Russia sanctions over Ukraine Anti-Semitic acts in France doubled in 2014: Jewish group Turkey's Erdogan says no to Syrian Kurdistan 'No chance' of beating climate change without India: Obama Microsoft profit dips as revenue rises Attack on Ukraine's Mariupol targeted civilians: UN Merkel calls threats, attacks against Jews in Germany 'disgrace' IMF set to continue support Greece after election Natalie Portman sits in on retro space-age Dior fashion show WikiLeaks accuses Google of handing over emails to US $169 million solar power plant to be constructed in Kazakhstan Kazakhstan's Ministry sues Eurocopter Kazakhstan Engineering Golovkin can repeat Tyson's KO streak Rakhat Aliyev trial in Vienna postponed Kazakhstan's Ministry of Foreign Affairs joins EU and USA demanding peaceful talk Nazarbayev congratulates Saudi Arabia's new King Salman Colombia's Paulina Vega wins Miss Universe title Putin says he's ready to work with Greece's new government Sundance doc tackles white-on-black deaths in US Brother of sole survivor on details of plane crash in Zhambyl Oblast Australia PM in 'time warp' as British royal knighted 'Birdman' soars to victory in Oscars bellwether Karim Massimov meets PM of Luxembourg Xavier Bettel at WEF Obama to be guest of honour at India's Republic Day parade Video from plane crash site in Kazakhstan published on the Internet UN Security Council to meet on Ukraine crisis after deadly clashes Hollande congratulates Tspiras on Greek election victory Kazakhstan’s Energy Minister refutes sales of oil refinery by his son Russia's cheap gas may shut down Kazakhstani oil refineries: Minister of Energy Energy Minister on second nuclear power plant in Kazakhstan Merkel urges Putin to 'put pressure' on Ukraine's pro-Russia separatists SpaceX chief Elon Musk eyes Internet satellites: report 'Interstellar': timely ode to space conquest WHO pledges reforms as it admits Ebola mistakes Thousands join anti-Islam rally as Germany worries about image Hussars beaten by Wolves: Poland loses to Kazakhstan 2:3 in WSB She is young and progressive player: Sharapova about Diyas Nazarbayev expresses condolence over death of Saudi Arabian King Kazakhstan plane crash survivor called rescue team to crash site: father's account US spies link Litvinenko killing to Kremlin: report Obama cancels Taj Mahal visit: Indian media Ukraine rebels vow to conquer more territory in war-torn east France's Hollande urges big business to help in anti-terror fight Kazakh National Bank Governor reiterates tenge stability NATO chief warns of returning jihadists threat Russians ready to eat less in crisis, united round Putin: deputy PM Galysheva finishes fifth in moguls at FIS Freestyle Ski World Championship in Austria Dutch to collect more remains from MH17 Ukraine crash EU tells Moscow to 'assume its responsibility' in Ukraine war Bob Dylan, 'wise' at 73, gives album free to seniors Kerry makes impassioned Davos call to fight terrorism New US sanctions would 'unravel' Iran nuclear deal: Zarif Helicopter taxi in Almaty for one grand only A baby is born every 113 seconds in Kazakhstan Kazakhstan's army ranks 80th in Global Firepower Index HIV positive: gender and age trends in Kazakhstan Turkish president postpones Somalia trip to attend Abdullah funeral Transition to 12-year education postponed: Kazakhstan's Education Minister Ukraine leader says pro-Russia rebels paid 'high price' for attacks Saudi King Abdullah dies, Salman is new ruler US and Cuba begin reconciliation with smiles and rifts Australia urges Indonesia to grant mercy to two drug smugglers on death row Antonis Samaras: embattled Greek PM seeing red over leftist peril Ukraine cedes airport on one of bloodiest days of war Geometry and genitalia parade for Paris men's fashion week Internet will 'disappear', Google boss tells Davos YouTube stars quiz Obama Disneyland measles outbreak puts California on alert Kazakhstan in talks with Toshiba to construct its first nuclear power plant UN Security Council condemns Ukraine trolleybus attack Paris attacks 'wake up event' for artists: Redford at Sundance UN meets to confront anti-Semitism after Paris attacks Samruk-Kazyna cuts spendings by $1.83 bln in 2015 Sole survivor undergoes surgeries as new details of plane crash in Kazakhstan emerge Astana Opera tours Italy with Spartacus: Tengrinews streams live Nazarbayev discusses south-eastern Ukraine and sanctions against Russia with Obama New Kok Zhailau road in Kazakhstan raises eyebrows Golovkin is no hype work, but real deal: Andre Ward Bus shelling in Ukraine's Donetsk kills 13: official Australia calls for MH370 recovery tenders as search goes on Google preparing to launch cellular service: media Galysheva takes bronze at Freestyle Ski World Championship in Austria eBay to slash 2,400 jobs in bid to 'compete and win' Russia pursuing 'occupation plan' in Ukraine: US envoy Several new agricultural plants open in Almaty Oblast Kerry heads for London talks on combating jihadists EU faces 'huge challenge' to reassure Jews of future in Europe American couple living in yurt NATO says Russia has increased equipment flows into Ukraine Linkin Park cancels tour after injury Russia unveils $21 bn anti-crisis plan Jews, Muslims, Christians tackle 'Charlie', religious violence at Davos Paris attacks 'despite mass surveillance': Snowden Berlusconi pact riles rebels as Italy electoral law approved Sole survivor in Zhambyl Oblast plane crash regains consciousness AirAsia jet's alarms 'screaming' before crash: investigator West's defence of Charlie Hebdo worries moderate Asia Muslims China has mountain to climb with 2022 Winter Olympics bid Kerry says freedom of press 'under siege' Google aboard as Musk's SpaceX gets $1 bn in funding World has duty to ensure Ukraine's 'success': EU UN Security Council condemns Yemen attack, backs president Spain hopes Iran will join fight against Islamic extremism EBRD on Kazakhstan’s 2015 economic prospects World Bank trims estimate of Ebola economic cost 'Russian forces' attack Ukraine troops in separatist east Turkey PM calls for 'new beginning' with Armenians Airplane crash in Kazakhstan: 6 dead, 1 injured

Light rail opens in S. Korea amid financial fears

With sleek railcars sliding along elevated tracks, South Korea's newest light railway is a smooth ride, and the hope is that it can avoid the fiscal train wreck facing similar projects, AFP reports.

But passenger estimates for the rubber-wheeled, driverless light rail transit (LRT) system, which will open to the public in Uijeongbu city north of Seoul on July 1, have already been scaled back.

And government researchers say the 11.1-kilometre (6.9 mile) stretch of line, which was built under a public-private partnership deal, will cost taxpayers 10 billion won ($8.6 million) a year for the next decade on top of the vast sums already spent.

"Other LRT projects in the country went awry but we believe this one will be different," said Lee Myung-Se, vice president of Uijeongbu LRT Co.

"Unlike other LRTs, there will be enough demand as it passes through the most populated areas and carries commuters fast to a station where they can transfer to the main subway line linked to Seoul."

The 15-station line took five years and cost 547 billion won ($469 million) to build -- 297.4 billion won from a South Korean consortium led by GS Engineering & Construction and 249.6 billion won from taxpayers.

The French unit of multinational Siemens won orders worth 157 million euros ($196 million) and hopes the project will pave the way for other LRT contracts in South Korea, one of the world's most densely populated large countries.

"An LRT system is quite ideal for Korean cities because of its flexibility and low costs compared to traditional heavy subway systems," Benoit Pirard, commercial manager of the project, told AFP.

Researchers for the national parliament are not, however, hopeful about the bottom line. The initial forecast in 2006 estimated daily average passengers at 57,000 but this was scaled back to 31,000 last year.

Based on the latest estimate, the National Assembly Research Service (NARS) predicted in April the line would likely lose 10 billion won a year for the next 10 years.

This means the city, with a population of 450,000, will have to pay up to 10 billion won a year to Uijeongbu LRT Co under a minimum revenue guarantee.

"In light of the size of the city's budget, it is true this leaves a considerable burden on us," Lim Hee-An, deputy director of the city government, told AFP.

"However, we think it is worth it to help ease traffic congestion."

With LRTs opening around the country, critics have accused politicians standing in provincial elections of exaggerating demand to push through "pork-barrel" projects in return for support.

And the NARS warned in a separate April report that LRT projects and most other infrastructure projects being privately financed under minimum revenue guarantees from local governments were like ticking fiscal time bombs.

Public-private partnerships were introduced when South Korea was engulfed by the Asian financial crisis in the late 1990s.

The NARS said they are now set to suck up 41 trillion won of taxpayers' money over the next 20 years, without taking LRT projects into account.

The country's first LRT, extending 24 kilometres (15 miles) between Gimhae and Busan on the south coast, opened last September amid fanfare.

But so far it has carried an average 31,000 passengers per day, just 18 percent of what had been predicted, according to NARS.

Unless usage improves, it will face a 1.6 trillion won bill over the next 20 years to compensate private investors who built the project.

Yongin's LRT, which is due to open in April, has been dogged by controversy over financial haemorrhages, corruption scandals and delays, while daily passenger estimates have been cut from 160,000 to 30,000.

Yongin city faces the prospect of repaying 1.8 trillion won to investors over the next 30 years, NARS said, even under a contract recently amended in the city's favour.

Another LRT line is being built in the northeastern Seoul district of Dobong, while eight other small projects are planned in the capital plus three in provincial cities, according to the construction ministry.

Yun Sun-Chul of watchdog group Citizens' Coalition for Economic Justice questioned whether these projects were worthwhile.

"Irresponsible pork-barrel promises, loose oversight and sparse consideration for effectiveness against costs are to blame," he said.

"The country really needs neutral experts to inspect election promises to examine whether they are economically viable and socially justifiable, before provincial authorities blindly set off on them."
19 june 2012, 16:41
33 0
Поделиться:
Light rail opens in S. Korea amid financial fears
http://en.tengrinews.kz/userdata/news_en/2012/news_10879/thumb_m/photo_17732.jpg
http://en.tengrinews.kz/industry_infrastructure/Light-rail-opens-in-S-Korea-amid-financial-fears--10879/
Write your comment
Please introduce yourself:
Inicate your e-mail (confirmation required):
You can also log in as:
Comment:
By pressing "Send" button, you express your agreement with the rules of comment section
Sea of candles marks 'magical' rally that shook Berlin Wall
Some 200,000 people joined a candlelight procession marking a watershed mass protest 25 years ago that helped bring down the Berlin Wall a month later.
3 215 0
The Eiffel Tower in numbers
The Eiffel Tower is the most visited monument in the world that charges for entrance. Here is a factfile on France's iconic building.
3 410 1
Berlin passion for 1940s fashion untempered by WWII hue
With her blotted red lipstick, perky coiffed curls and fitted 1940s skirt suit, Constanze Pelzer looks like she's stepped off a World War II film set. From head to toe, the 49-year-old German is the picture of 1940s elegance -- from the little glasses and striking jewellery to her red sling-backs, her entire outfit is authentic.
3 415 0
'Miracle' of the Marne: the WWI battle that changed history
At the start of September 1914, after just one month of war in Europe, the German army were at the gates of Paris. The word on the street was that Emperor Wilhelm II had already booked a dinner table on the Champs-Elysees.
3 393 0
Madagascar unleashes poisoned rain to break locust plague
The choppers swoop in, dumping insecticide over a plague-stricken village in Madagascar's stunning central highlands.
3 386 3
A day at the Met: opera for New Yorkers and the world
In a cramped backstage area at New York's Metropolitan Opera House, French mezzo-soprano Sophie Koch adjusts her 19th century dress.
13 620 1
Nazi past overshadows genius of Porsche
The name Porsche has long made sports car enthusiasts swoon but the Nazi past of the famous brand's founder has left his Czech hometown sorely divided over his legacy.
3 324 0
Paraguay group turns garbage into sweet melodies
Parents all over the world often complain about their children's music being garbage.
3 494 0
Most Read
Most Discussed
Today
Week
Month
Яндекс.Метрика