Finance & Funding

Poland: Ministry decides to build missing section of A1 motorway

October 24, 2016

The Polish government said that it will complete the final 80km section of the A1 motorway at a cost of around €830 million. Money will come out of the National Road fund (KFD), according to the Ministry of Infrastructure and Construction. The missing section stretches from Tuszyn to Czestochowa and the government will choose contractors in September 2017. Completion is set for 2020. Earlier this year, Strabag was awarded a contract to build a further section of the A1 motorway, around 16.7km betwe

Volvo CE sees sales dip for Q3

October 21, 2016

Volvo Construction Equipment has seen its sales dip 2% in the third quarter of 2016, following a strong year. However the profit margins have improved despite the flat sales volumes in the third quarter. The firm says that an improvement in the European market and order intake up by 17% failed to offset continued weakness in other markets, sending Volvo Construction Equipment (Volvo CE) sales down 2% in the third quarter, when adjusted for currency movements. Net sales in the third quarter decreased by 3

Morocco road construction programme continues

October 20, 2016

Morocco’s massive infrastructure development programme is continuing. The cost of this project is expected to hit US$61.86 billion by the time it is complete in 2035. The second and third phases of the road network development programme for Morocco will see the construction of some 1,649km of highways. These new highways will link the country’s capital Rabat to the economic hub Casablanca and to other major cities such as Tangiers in the north as well as Fes and Marrakesh. Morocco’s road development program

India’s new highway projects finding funding

October 20, 2016

Funding has been found for a major highway project in India. The Asian Development Bank (ADB) is providing a substantial portion of the US$846 million of financing required for the 800km Visakhapatnam-Chennai Industrial Corridor (VCIC). In all the ADB will provide $631 million in the form of a series of grants and loans, which will be delivered in stages. Meanwhile the Indian Government will provide $215 million. The VCIC itself forms part of the 2,500km East Coast Economic Corridor (ECEC).

Serbia highway loan from Azerbaijan

October 19, 2016

An amended loan agreement will help with the construction of a major highway project in Serbia. The funding for the project is being provided by Azerbaijan. The loan facility for the work on the Corridor 11 highway project has now been extended for an additional two years. The total loan for the project is €308 million. The project is now due for completion in May 2018. The work is being carried out by Azerbaijan-based contractor Azvirt.

Vietnam’s North-South highway plan

October 19, 2016

A new highway is being planned for Vietnam that will run from north-south and feature four traffic lanes, with two in either direction. The project has been put forward to the Vietnam Government by the country’s Ministry of Transport (MOT). The route of the highway has still to be revealed but the link would improve travel connections between capital Hanoi in the north of the country and Ho Chi Minh City in the south. Running for some 1,372km in all, the highway has an estimated cost of US$10.25 billion to

East Africa transport link finding funding

October 18, 2016

Funding sources have been found for a major transport corridor for East Africa. The US$1.91 billion project will improve transport connections from Lamu Port to South Sudan and Ethiopia. Funding for the project is being provided by the state-run Development Bank of South Africa (DBSA). The 537km road link is called the Lamu Port-South Sudan-Ethiopia (LAPSSET) transport corridor. The project will connect Lamu on the coast of Kenya, with Garissa and Isiolo, providing a through route to the landlocked nations

Costa Rica: environmental possibly loom for Route 32 to Moin port

October 18, 2016

A construction start to the extension of Route 32 between Rio Frio and Limon is set for another setback after the government demanded more environmental work to be done. La Republica newspaper is reporting that Costa Rica’s Secretariat of Environment (Setena) Wants China Harbour Engineering Company (CHEC), to provide more information on the environmental impact of the proposed 107km project. Marco Arroyo, president of Setena, has told CHEC would it has until April 2017 to provide the information on v

Koridori Srbije said it is suffering delays to Corridor 10 work

October 18, 2016

Koridori Srbije, the contractor building the eastern section of the Corridor 10 motorway between Nis and the Bulgarian border, said completion will be delayed. The newspaper Vecernje Novosti reported that Koridori Srbije said works on the Prosek-Bancarevo section, Crvena Reka-Ciflik, Pirot East-Dimitrovgrad and the Bancarevo tunnel should be finished by the end of the year. Construction on the Dimitrovgrad ringroad are due to be completed in March.

Caterpillar CEO Doug Oberhelman retiring

October 17, 2016

Caterpillar chairman and CEO Doug Oberhelman is retiring after more than 41 years with the company. This will become effective from March 31st, 2017. During his time as chairman and CEO, Oberhelman has boosted the company’s focus on serving customers while also driving a culture of quality and safety. Oberhelman led the company to its highest sales and revenue peak in its 91-year history in 2012, and, since that time, has successfully led the company through the unprecedented downturn affecting our key indu