Finance & Funding

A joint venture between Phuong Thanh Investment and Construction (Phuong Thanh) and Cong Thanh Investment and Construction (Cong Thanh) has received an investment licence from Quang Ninh province, Vietnam to upgrade the National Highway 18's Ha Long-Mong Duong section.

The governor of the US state New York, Andrew Cuomo, said he wants to spend US$22 billion over the next five year on maintaining aging roads and bridges. Cuomo also wants to give the agency responsible for maintaining the state’s major cross-state tolled freeway, the 920km Thruway, $1 billion so the agency – New York State Thruway Authority - can freeze tolls at their current rate until 2020. US media reported that his plan would also eliminate tolls for agricultural traffic. He would also offer a t

In the Algerian province of Oran, construction of the second ring road linking Belgaid to El-Kerma is 60% complete and should be open by June. Also, the motorway between Oran port and the East-West motorway, costing around $448.46 million, is due to be complete in July 2017, according to a report in Le Quotidien d'Oran. Work is being done by the Algerian-Turkish group ENGOA-MAKYOL and the project is being overseen by Agence nationale des autoroutes (ANA). Widening of the CW46 linking Sidi Marouf to

Financially delinquent contractors working on Indian projects will, from now on, find they are labelled a “non-performer” and barred from further work until they remedy their cash flow. The move by the National Highway Authority of India (NHAI) is an attempt to speed up site work and complete public-private partnership road projects on time. Under the new policies, firms that delay construction or fail to inject their share of capital into their projects will be barred from participating in fresh bids un

The cost of building the Padma Bridge in Bangladesh will be nearly three times the US$2.61 billion estimated in 2011. Also on the rise is the cost of flood prevention work in the form of levee construction – called river training in Bangladesh. The addition of 1.3km of work at the Mawa end of the bridge means the total cost is now $1.2 billion, up from $1.1 billion. Apart from $200 from the $1 billion loan from India the project is not using any foreign financing, according to a report in the Daily S

JCB has now set up a finance programme for customers in South Africa. The firm has formed a strategic alliance with ABSA Bank, acting through its Vehicle & Asset Finance division (ABSA) under the trading name of JCB Finance in South Africa. The new JCB Finance facility will be available to all of JCB’s dealers in South Africa. David Dolbear, general manager Financial Solutions Africa at JCB said, “The introduction of JCB Finance to the South African market will help us to deliver innovative financial so

Terex Trucks is appointing Babcock to provide dealer cover for the Southern African market. According to the firm, partnering with one of Africa’s most established and experienced equipment suppliers will help boost the sale and support of Terex Trucks’ rigid and articulated haulers. Babcock will also provide parts and other essential aftermarket support services to customers in South Africa and neighbouring countries. Terex Trucks will support Babcock by providing a range of commercial and technical resour

The firm is steadily moving up the size scale with its machines, introducing heavy equipment aimed at the extraction industries, in addition to new and more versatile machines for construction users and road machinery. The firm is working hard to develop new large excavators and trucks to meet demand from the extraction industries. The large excavators and rigid trucks are now a key part of the product range as XCMG wants to increase its profile in the extraction sector. The company has also struck an a

The Moscow City Government plans to complete building of the North-East and North-West Chords, two of the biggest road building projects in the city for the last 15 years The links will be completed during the next several months, according to an official spokesman of the Moscow Government. Both roads are considered as a cheaper alternative to the Fourth Ring Road, the construction of which was considered by the Moscow Government several years ago. However due to huge costs, which are estimated at mo

The Texas Department of Transportation is poised to give the go-ahead to US$1.27 billion worth of freeway to start this year. Plans include extensions to Texas 249 and US 290 in order to give Waller County greater access to major freeways and tollways, according to media reports. The biggest project, which is expected to begin this summer, is the addition of toll lanes to Texas 288, costing $800 million. Work will also be carried out at interchanges between the 288 toll road, Loop 610 and the Sam Hous