Important Chilean bridge project may continue
Topics: CHILE BRIDGE PROJECT
The construction project is being headed by the South Korean contractor Hyundai, which has now reached an agreement with the Chilean Government over the project.
Work was halted on the project due to a dispute over the increased cost of building the bridge.
However this new agreement is being signed by both parties before being reviewed by Chile’s General Comptroller.
Hyundai has said that with its signing of the agreement, the consortium will renounce a number of rights with regard to the work.
However, this move will help to resolve the issue between the consortium and the Chilean Government and mitigate losses incurred to date.
The Chacao Bridge project is important for Chile as it will provide a secure connection with Chiloe Island, helping boost the economy of the area and also develop tourism in the region as a whole.
At present visitors to Chiloe Island either have to travel by air or use the ferry service.
Spanning the Chacao Channel, the bridge will reduce travel times considerably. ■