Finance & Funding

The US$2.6 billion, 30-year municipal bonds issued to pay for the longest traffic beltway in America are reported to be priced cheaper at around $97, with a higher yield of 5.15%. Bloomberg claims the bonds for the Grand Parkway in Houston – a 290km (180 miles) road circling the city - could have been sold by the Texas Department of Transportation during a much healthier market period from as early as April this year. Also known as Texas State Highway 99, the Grand Parkway opened its first section in 1994.

Chinese firms continue to handle key deals in Africa, with agreements now in place for major projects in both East and West Africa. In Ethiopia, China's MCC 17 Group will handle a US$53 million package of works for the Ethiopian Roads Authority. This deal is for the construction of a 91.6km section of road linking Mizan with Dima. Construction work is due to commence in August 2013 and the new road will connect with Addis Abeba. The road forms part of a 260km link that will connect Mizan to Boma in South Su

Financing from Taiwan will help develop road infrastructure in Guatemala. Both the Taiwanese Government and private Taiwanese sources are supplying funding streams to Guatemala for transport infrastructure development. The Taiwanese Government is donating US$50 million to help improve the section of the Atlantico road connecting Sanarate and El Rancho. Taiwan is also providing a further $50 million in the shape of a loan for the project. This loan will be repayable over a 20 year period. The Atlantico road

Financing for a road project in Mozambique is being provided by a bank in India. The Exim Bank of India is proving a line of credit worth some US$147.7 million for the road upgrade project. Mozambique is seeing steady investment in its infrastructure and this latest project will improve transport links in the country.

Volvo Construction Equipment (Volvo CE) is increasing its custom machine offering for specialised applications by partnering and outsourcing modifi¬cations to an experienced Special Application Solutions Partner, such as Sweden’s CeDe Group. The Swedish construction equipment manufacturing giant says this is also allowing them to provide innovative solutions to sectors where Volvo equipment has not traditionally been present. Examples of Volvo CE’s facilitated Special Application Solutions include road-rail

Doosan Portable Power was due to showcase its new compressor and generator products for the  rst time in the UK in a special ‘Portable Power’ section of the Doosan Construction Equipment stand at Plantworx in Warwickshire, central England. The Stage IIIB compliant 9/305 large portable compressor and the G100-IIIA Stage IIIA compliant generator were set to be among the models at the 14-16 May 2013 show. The stand was also due to feature the new extended ‘Tough Top’ range of portable compressors and lighting

People are stealing our money ! According to the World Bank Report: “Curbing Fraud, Corruption and Collusion in the Roads Sector” June 2011. “…roads projects around the globe remain plagued by fraud, corruption and collusion…” In some countries, contractors are refusing to participate in tenders/bids because of the extent of corruption. I hope to encourage you to take action to fight Fraud and Corruption (FC). It is impossible to precisely know the extent of Fraud and Corruption. The reason is simple. If F

Ritchie Bros sold around US$3.9 billion of equipment at 328 unreserved equipment auctions around the world in 2012. This represents a 5% increase in gross auction proceeds over 2011 and the highest gross auction proceeds in the company’s history. The firm achieved gross auction proceeds of $1 billion in the fourth quarter of 2012 alone, highlighting the strong industry demand for used machines. Ritchie Bros says that it also attracted record online bidder registrations and sold approximately $1.3 billion of

Caterpillar has revealed details of its “significant” investment in new and upgraded parts distribution centres in Africa and the Middle East (AME). The investment, highlighted during Cat’s recent Construction Days event in Antalya, Turkey, is in addition to the US$460 million invested by the company’s AME dealers in 2011 to improve local operations, reports Guy Woodford. “We are going to open in March [2013] a complete new parts distribution centre in Dubai, which is significant,” said Christian Dillier, A

International Equipment Solutions (IES) has acquired Siac do Brasil from SIAC and its affiliates. IES and SIAC have agreed to cooperate in the future. IES was formed in September 2011 as a platform for investments serving the construction, agriculture, landscaping, infrastructure, recycling, demolition, mining, and energy industries.