SEOUL — A U.S.-South Korea consortium has signed a contract targeting a November 2012 completion for relocating U.S. bases in and north of Seoul to Pyeongtaek, where major construction to expand Camp Humphreys is under way.

The CH2M Hill-Kunwon consortium will work closely with the Army Corps of Engineers Far East District in Seoul to manage the project, the South Korean Ministry of National Defense said in a news release Monday.

Colorado-based CH2M Hill is a multinational engineering and construction firm.

The project is estimated to cost nearly $12 billion, according to Korean media reports.

Lee Jae-young, a spokesman at the U.S. Forces Korea Base Relocation Office at the Defense Ministry, said in a news release that the United States and South Korea will review the project and may revise the completion date if necessary.

When consolidation of several installations into a hub base at Camp Humphreys was initially planned, USFK had targeted a completion by 2008.

But that deadline was extended due to political opposition, funding and other delays.

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