Finance & Funding

Ethiopia is working on a strategic plan aimed at improving the country’s road network, in a bid to boost transport and trade and develop the country’s economy. The plans call for an analysis of 15,000km of roads in the country in a bid to evaluate the condition of the links and determine what upgrades are required to improve transport. A further 3,000km of roads will also be constructed under the programme of works, which will boost connectivity to the country’s rural areas. The Ethiopian Government has

Florida Department of Transportation (FDOT) is working on plans to replace the Howard Franklin Bridge. The project is now expected to cost US$814 million, an increase from the $750 million originally envisaged. The contract is expected to be awarded in 2019, with construction commencing in 2020. The first stage of the project should be ready for use in 2024, providing a significant increase in daily capacity and boosting the emergency evacuation capacity also. The new bridge will carry four lanes of traffi

A tale of woe surrounds Colombia’s La Linea Tunnel project, which is still incomplete. The project has been beset by a serious of issues including unexpectedly poor geological conditions, contractors having the wrong kind of insurance, insufficient funds for work to continue and in more recent times, further geological problems. While the Tolima end of the link is now close to completion, work still remains to be done at the Quindio end of the tunnel. Measuring 315m long, the La Gata section is now largely

Mexico has made a significant advance in developing its road network in Queretaro State and Coahuila State. Some US$900 million was used to develop the road network on Queretaro State during the 2012-2018 period, while $370.1 million was used to improve the road network in Coahuila State during the 2014-2018 period. Mexico’s Secretariat of Communications and Transport (SCT) said that major projects in Queretaro State included building the Queretaro bypass and a road link connecting Portezuelo with Palmillas

A finance source has been secured for major highway projects in Colombia. The Rumichaca-Pasto and Montes de Maria highways are being constructed by Spanish contractor Sacyr. A package of loans worth a total of US$110 million will pay for the highway work. This financing is being supplied jointly by CIFI, Banco BTG Pactual Cayman Branch and Banco Pichincha Panama.

A finance source has been secured for major highway projects in Colombia. The Rumichaca-Pasto and Montes de Maria highways are being constructed by Spanish contractor Sacyr. A package of loans worth a total of US$110 million will pay for the highway work. This financing is being supplied jointly by CIFI, Banco BTG Pactual Cayman Branch and Banco Pichincha Panama.

The 13km M4-M5 Link in Sydney, Australia is to be constructed by the South Korean contractor, Samsung C&T. The project is worth US$788.5 million. The new link will be constructed as an underpass and is due for completion in mid-2023.

A programme of bridge repairs and upgrades is being planned by the Swedish Transport Administration (Trafikverket). The work is expected to cost €960 million and will see around 850 bridges being improved. The improvements are needed to boost capacity for many of the structures, to cope with larger trucks now being allowed on the Swedish road network. The programme is planned to continue until 2030 and will focus on improving the load capacity of bridges on key routes.

After a series of delays a key project to construct a new tunnel connection in Nepal is now moving forward. The country’s Department of Roads is inviting bids for the Ngdhunga Tunnel project, which comes with an estimated pricetag of US$182 million. Around 75% of the necessary funding is being supplied by the Japan International Cooperation Agency (JICA) in the shape of a loan with a 40-year repayment period. The project for the Ngdhunga Tunnel involves building a 2.45km tunnel section between Basnetchhap a

The construction of Colombia’s Tunel de Oriente project is running behind schedule. Unexpected geological problems are the reason for the delay to the project’s completion. However the builders have assured the client that the delay will not increase the cost of the project. The tunnel, located in Colombia’s Antioquia Department, was due for completion in December 2018 but will now be ready by May 2019.