Finance & Funding

Plans are in hand in Bolivia for 10 road projects. The state-owned road operator ABC has started the projects, which involve investments of more than US$588 million and extend for over 493km. China Harzone Industry Corporation is handling the $66.1 million project to develop the 38.06km Final Avenida Petrolera-Paracaya scheme in Cochabamba. Sinopec International signed the deal for the 58.8 km Puente Yapacani-Puente Ichilo project. Other projects include the 59km Lluchu-Ravelo road (linked to Santa Fe), whi

The World Bank Group is providing funding worth US$500 million for the development of a key transport corridor in the north-west of the country. This comes under the East Africa Regional Transport, Trade & Development Facilitation Project. The general aim of the project to build the corridor is to provide economic and social development for communities in the counties of West Pokot and Turkana. The government of Kenya will contribute the remainder needed for the $676 million project.

Plans are progressing in Kazakhstan for the project to construct the Big Almaty Ring Road. A number of investors are involved in financing the project and are planning to invest US$1.2 billion in the ring road. The contract will include construction and operation of the project. Strong interest has been shown in the project by the EBRD, the Asian Development Bank, IFC, and the Islamic Development Bank. Meanwhile according to Kazakhstan's Committee of Roads, the economic effect of the Western Europe-Western

According to a report from US-based research firm Freedonia, world demand for construction machinery will grow by 3.9%/year to $218 billion by 2019. The Asia/Pacific region, Central and South America, and the Africa/Mideast region are all expected to register above average gains looking ahead as construction spending, particularly on infrastructure projects, continues to increase. More than two-thirds of all additional construction equipment demand generated between 2014 and 2019 will be in China according

The tender process for the road connections to the third bridge over the Bosporus in Turkey has been delayed once more. This is the third time the tender for the connecting roads for Istanbul's third bridge over the Bosporus has been postponed. The tender for the North Marmara Motorway was originally set for 6th March 2015 but was then pushed back to the 6th May. It was then announced that the tender would be run in two stages, with the Kinali-Odayeri motorway tender on 7th July and the Kurtkoy-Akyazi motor

Canada’s infrastructure minister, Denis Label, officially broke ground for Montreal’s replacement Champlain Bridge, saying the project will likely cost US$3.42 billion. The 3.4km Champlain Bridge Corridor Project, including spans and highway expansions, is expected to be completed by 2019. SNC-Lavalin, the 50% stakeholder in the winning consortium Signature on the Saint-Lawrence, recently announced it had finalised the deal with new Champlain Bridge owner Infrastructure Canada. Signature on the Saint-

Columbian president Juan Manuel Santos Colombia has said pension fund money could help finance the country’s ambitious 4G motorway projects. Columbia has 35 road projects underway costing more than US$11.7 billion, including the first two 4G tender waves with six public-private partnerships that have already been approved. During a banking convention held in the coastal city of Cartagena in mid-June, Banco Davivienda president Efrain Forero lending capacity studies have been completed for 4GH projects

The Texas Transportation Commission has conditionally awarded the two companies, Flatiron and Dragados the contract to design, build and operate a new cable stayed Corpus Christi Harbor Bridge.

Funding for a major freeway project in Iran could come from foreign sources. The Tabriz-Marand-Bazargan freeway looks likely to be built using foreign investment. A plan for the project has been approved by the Organisation for Investment, Economic and Technical Assistance of Iran (OIETAI). This new freeway forms part of a larger programme of road and highway construction in Iran. The aim is to increase the total length of freeways across the country from the present 2,360km to 5,200km in the next four year