Finance & Funding

According to a new report from Timetric’s Construction Intelligence Center (CIC), the global construction industry is gradually regaining strength. This comes after a prolonged period of sluggishness in the wake of the global financial crisis. In real terms, the global industry is expected to have reached US$8.5 trillion in 2015, up from US$7.5 trillion in 2010. Over the forecast period (2016-2020) the pace of expansion will accelerate to an annual average of 3.4%, with the industry reaching a value of US$1

French firm Egis is reporting improved group performance with its latest financial results. In 2015, the Group’s managed turnover amounted to €937 million, up 10% compared with 2014 (€854 million). This growth can be attributed to acquisitions which account for approximately 6%, but it is also due to business development: 4% excluding scope effects. Following a drop in 2014, the order intake for engineering has resumed an upward trend. It represented 14 months of business in 2015, taking the order book t

A new joint venture team will carry out the construction of a major new highway project in Indonesia. The project will see the construction of the Serpong Balaraja highway in Tangerang Regency. Construction is due to commence in July 2016 with the work expected to cost over US$452.5 million. The partnership will be headed by local firm Bumi Serpong Damai (BSD), with a 50% stake. Its partners will be Transindo Karya Investama and Astratel Nusantara, both with 25% shares in the partnership.

Paraguay is commencing the tender process for the first section of the bi-oceanic corridor project. The plans have been announced by the Public Works and Communications Ministry. Work on the first section of the bi-oceanic corridor will be carried out between Carmelo Peralta and Loma Plata. The project is expected to cost in the region of US$315 million. The tender process for the second section of the corridor will commence in late 2016. This section of the route will run between Mariscal Estigarribia and

A major highway upgrade project in Azerbaijan is receiving fuding from the World Bank. Under the terms of the deal the World Bank has approved financing worth US$140 million for the widening of the Baku-Shamakhi highway. The highway will be widened to four lanes, increasing capacity.

The 2015/16 Global Competitive Report from the World Economic Forum shows that Denmark has fallen to 13th place with regard to competitiveness in terms of infrastructure, health and education. Denmark also ranks 16th in terms of road quality. Jesper Arkil, chief executive of Danish construction company Arkil and chairman of the Road Building Section of the Danish Construction Association (Dansk Byggeri), said that this heavily underscores the need for renovations and expansion of the Danish road netwo

The West Australia state government is expected to face another legal challenge for its proposed extension of the Roe 8 highway, according to ABC News. This fresh challenge will be filed by local traditional owner Corina Abraham who will argue that the WA government's process for granting Aboriginal heritage approval is flawed. In June 2015, the Aboriginal Cultural Materials Committee decided to approve the state government's request for disturbing registered aboriginal sites in order to extend the Ro

Work has started on road projects worth about US$4.5 billion in the Indian state of Maharashtra. Projects include a flyover connecting Pune Naka and Sat Rasta Chowk, as well as the four-laning of four roads, namely NH-13, NH 150E, NH-166 and NH9. Meanwhile, within the coming year, nearly 700km of in the state of Tamil Nadu are to be upgraded and transferred to the National Highways Authority, according to a report in SteelGuru. The list of roads is expected to be handed to the Ministry of Road Tran

Budimex has signed a contract worth more than €214.3 million for construction of the second section of Olsztyn's ring-road. The section will be around 14.7km long and will be completed within 28 months. The bid by Budimex was the fourth lowest offer in the tender, as announced by the Polish General Directorate for National Roads and Motorways (GDDKiA).