Korean firm KEC signs agreements for studies on 2 Ecuadoran highways

Ecuador has signed two agreements with Korea Expressway Corporation (KEC) to carry out prefeasibility and feasibility studies for the Quito-Guayaquil and Guayaquil-Cuenca highways.

The 324km Quito-Guayaquil highway and 272km Guayaquil-Cuenca road will connect the provinces of Pichincha, Cotopaxi, Tungurahua, Chimborazo, Guayas and Azuay.

The roads, which are estimated to require combined investments of at least US$1.8bn, are among the projects being prioritized by the government of President Guillermo Lasso, which hopes to have construction works on them begin before the end of his administration in May 2025.

During the act to sign the agreements, transport and public works minister Darío Herrera said that there is a commitment with South Korea to jointly invest in roads in Ecuador.

According to information from the transport and public works ministry (MTOP), also this month the government plans to sign agreements with Grupo Puentes to conduct pre-feasibility studies for the Manta-Quevedo and Montecristi-La Cadena roads, which are estimated to cost a total US$150mn.

Meanwhile, it is expected that another deal will be signed in April with Canadian Commercial Corporation to carry out pre-feasibility studies for the US$1bn Guayaquil southern viaduct initiative.

Pictured: President Guillermo Lasso during the signing ceremony.