N. Korea plans to build highway with Chinese investment

<p>By Riyaz ul Khaliq</p> <p>ANKARA (AA) – North Korea is looking for Chinese investment to build a 112-kilometer (70 miles) highway that would connect Wonsan and Hamhung on the country’s east coast, local media reported.</p> <p>With a budget of $890 million, construction of the highway will be divided into five zones, The Chosunilbo said in a report.</p> <p>Citing the website of China’s official government tender, the daily said, North Korea’s Ministry of External Economic Relations had advertised a tender on Oct. 30, 2018 in this regard.</p> <p>“A Chinese company in the border city of Dandong has been contracted by the ministry to float the tender, while Chinese banks will raise the funds with a view to the North eventually repaying the money,” it added.</p> <p>However, concerns remain as to how the plan would be executed since sanctions on Pyongyang have prevented countries to invest in North Korea.</p> <p>The construction of the proposed highway will start by April this year and conclude in April 2022.</p> <p> </p> <p> </p><br>