Finance & Funding

Several new road bridges are being built in El Salvador’s La Paz Department as part of a highway improvement project.

Construction work on Kenya’s vital Mombasa-Nairobi highway upgrade project is now going ahead as planned. A resolution has been achieved that will solve the funding issues that had threatened to delay the project. The project will cost nearly US$3 billion in all and is crucial for the country’s economic development as it will provide a new four lane highway connecting Kenya’s capital, Nairobi, with its largest port at Mombasa. But there were concerns that the funding method based on a series of loans that w

A key financing package has been secured for the first phase of Sri Lanka’s Central Expressway project. Funding worth US$1 billion is being provided by China’s Exim Bank for the highway. Construction of this route will improve transport between the port of Colombo and the port of Hambantota.

Contractor VAD now looks likely to carry out rebuilding work for the northern stretch of St Petersburg’s Ring Road. This section of the ring road runs between the Priozerskoye Highway and the Western High-Speed Diameter route. VAD’s bid for the 14.3km stretch has received approval from the tender commission. The work will cost just over US$100 million to be carried out and should be complete by November 2020.

Financing worth US$150 million is being provided by the World Bank, which will be used to help pay for road development work in Mozambique. The funding will be aimed at upgrades to roads in Mozambique’s Nampula Province and Zambezia Province. One of the key upgrades will be to a 70km section of the road connecting Namacurra with Quelimane. The aim of the work is to improve transport for the agricultural sector in the respective provinces.

A funding package will help pay for road rebuilding work in Kazakhstan. The US$106 million of financing is being supplied by the European Bank for Reconstruction and Development. This will be used to pay for improvements to a 67km stretch of the Kurty-Kapshagai highway connecting capital Almaty with the city of Astana.

Chile has announced a major development in its transport network, with a budget being set for infrastructure growth. The current administration plans to spend US$2 billion on upgrading the country’s transport links, including roads and highways, airports and urban/underground rail. New plans are being set for the tenders for eight highways with their current concessions due to come to an end within the coming three years. The concessions involved in these tenders will be for some 1,500km of roads in all.