Finance & Funding

The contract for the first stage of the Corridor 5C project for Bosnia has been signed. This 48km section of Corridor 5 will itself be constructed in four sections and is expected to cost more than €500 million. Funding for these four stages of the Corridor 5 project is being provided by the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB), each of which will fund two stages.

Norway is pushing ahead with a comprehensive plan of road development. The country’s state-owned contractor, Nye Veier, plans to commence work on a series of road projects during 2019. In all these projects will be worth more than €2.3 billion (NOK 22 billion). The plans call for 52km of highways to be constructed, with the Tvedestrand to Arendal link being the first to be buit.

The complete financing for the Autopista al Mar 1 highway project in Colombia has now been secured. Loans of US$713 million from eight banks, seven of which are international institutions, will pay for the PPP project. Firms involved in the project include the Austrian contractor STRABAG and the Spanish firm Sacyr, as well as the local company CONCLAY. Construction work is well underway for the project, which is around 30% complete. Once the highway opens for traffic, it will improve transport and trade in

A rebuilt highway will improve transport from Nigeria’s commercial centre, Lagos, to its main airport. The project is providing a new highway stretch featuring up to five lanes in either direction from Oshodi on the west of the city out to Murtala Muhammed International Airport, which lies to the north. The work commenced in 2017 and is being carried out by the local contractor Hitech Construction Company. The new route will provide an improved connection from the Apapa Oworonshoki Expressway and the proje

A huge transport infrastructure budget has been set for 2019 by China’s Shandong Province, with the aim of improving connections. Roads and highways as well as ports, airports and rail will all benefit under the budget, which tops an impressive US$23.6 billion. Rural roads and bridges are amongst the transport links being prioritised for development. In all 61% of the budget will be targeted at road construction and improvement works. This follows on from a similarly high budget set in Shandong Province f

Italy’s highway operator Autostrade intends to invest in developing the country’s highway network. A budget of €7.7 billion has been set for improvements in the network for the 2019-2020 period. Of this budget, €6 billion would be for work planned to commence during 2019 and with the remaining €1.7 billion for projects expected to start in 2020.

The tender process for the second section of Paraguay’s bi-oceanic highway project is commencing in mid-2019. This 573km stretch of highway is being offered in two sections, with financing likely to come from international banks. The consortium Consorcio Corredor Vial Bioceanico is handling the first section of the project, which is costing around US$443.4 million. The second section of the route is expected to cost $800 million. The third stretch of the route will be complex as it includes a new bridge spa

The contract for the US$200 million Vientiane Expressway No 1 project in Laos has been awarded. The 15km road will connect the Thatluang Marsh Specific Economic Zone on the outskirts of capital Vientane with Dongmakkhai, which lies to the north of the city. The build-operate-transfer road concession was awarded to Vientiane Expressway Number 1 Sole Company of Laos and is for a 50 year period. The deal comes with the option of an extension to the period. The new expressway is intended to improve journey time

Wacker Neuson is bullish with its latest financial results, showing record revenue for fiscal 2018 with. The firm saw double-digit growth in group revenue to reach €1.7065 billion, a jump of 11%. The firm benefited from even faster EBIT growth to reach €159.7 million, a jump of 22%, while EBIT margin improved to 9.4%. The firm’s new strategy includes initiatives reduce complexity while its revenue is expected to grow by 4-8% in 2019 The Wacker Neuson Group says that business grew across all regions and bus

A major road development project for Mongolia will be carried out on the AH-3 route.