$2.4 billion Korean plan to rebuild Guatemala railroad

South Korean companies Hyundai and Yoochang are reported to be prepared to invest $2.4 billion to revive Guatemala’s railroad system.

According to the daily Prensa Libre, which quotes a representative of the companies, they have agreed to acquire the US-based Railroad Development Corporation’s license to control the system.

The Korean companies plan to reestablish the 1,200 kilometers of the existing system to link the Pacific with the Atlantic. They also intend to build 600 kilometers to link Tecún Umán, on the border with Mexico, and the port of Cutuco in El Salvador.

Original source (in Spanish): Efe