Finance & Funding

The project to construct the Via Expresa road project in Peru looks likely to be further postponed. Construction of the link, in Peru’s Cusco Region, was to have commenced in the first quarter of 2017. The project was to have been partly paid for by a loan from the World Bank worth US$110 million but first payments for the funding package were delayed. The local authorities are now considering cancelling the loan package altogether and finding another funding source, although this could affect the region’s

Road in the area around Mindanao in the Philippines will benefit from the provision of a loan worth US$380 million. This funding package is being supplied by the Asian Development Bank (ADB). The loan will be used for the Improving Growth Corridors in Mindanao Road Sector project. This is intended to improve and upgrade up to 280km of roads in the area. A further $123 million is being provided by the Philippines Government for the work, which will cost $503 million in all.

Work on highway upgrading will commence in Argentina’s Jujuy Province in 2018. In all 93km of the National Routes 34, 66 and IV66 will be improved and upgraded in the project. The World Bank is providing a loan worth US$300 million to pay for the work, which is expected to cost $311 million in all.

Financing has now been secured for a key highway project in Colombia. The project is for the Bogota-Girardot 4G road concession, with a loan from Colombia's national development bank, Financiera de Desarrollo Nacional (FDN), providing the necessary financing.

A new bridge will span the Uda River in Russia. This will be the third crossing over the river and will be constructed at Ulan-Ude in Siberia. The project is worth US112.8 million. Financing has yet to be finalised. The project will be carried out under the PPP model.

The Sultanate of Oman has produced a guide for road design and standardisation of roads and bridges in the Persian Gulf of state. The Times of Oman reported that the four-volume guide was launched by Ahmed bin Mohammed Al Futaisi, minister of transport and communications. The first and the second volume cover design of roads and bridges. The third volume is for standard construction specifications. The guide also includes the most important amendments to the regulations and safety of traffic to come in

Engineering consultancy Ramboll has won a €40 million design contract to upgrade two junctions on the A55 North Wales Expressway in the UK. The A55 North Wales Coast Road between Conwy and Bangor comprises one of the most dramatic highways in the country. The road squeezes between rugged mountains and the Irish Sea and comprises several tunnels. Between 1970 and 2000 the road was renovated into a dual carriageway, linking Chester and Holyhead. It is now part of the E22 Trans European Network Route

The organisers of the upcoming INTERMAT trade show for construction and infrastructure see strong growth for the sector. The INTERMAT organisers have unveiled the first Construction Industry Observatory report, which was produced in association with French government agency, Business France. The report provides construction-equipment manufacturers with strategic data on 12 countries in the EMEA zone. These nations have been selected for their planned investment levels in infrastructure, which total €1,600