Finance & Funding

A devaluing Canadian dollar has pushed up the cost for building a signature Windsor-Detroit bridge by around US$2.5 billion, according to Canadian media reports. The increase more than doubles what was believed needed by the Canadian government to construct the Gordie Howe Bridge, named after a Canadian ice hockey player who played most of his career for the Detroit Red Wings. The toll bridge, to be built under a public private partnership, will link the US city of Detroit, in the state of Michigan, w

The planned Penang project is postponed in Malaysia. This major road tunnel project will be delayed. The project is expected to cost US$1.42 billion and the work will be carried out by the Consortium Zenith BUCG (CZBUCG). For the first phase, three highways with a combined length of 21.2km will be constructed. They are the Air Itam to Tun Dr Lim Chong Eu Expressway bypass, the Gurney Drive to Tun Dr Lim Chong Eu Expressway bypass and the Jalan Tanjung Bungah-Teluk Bahang paired-road. The delay has been attr

A joint venture between Phuong Thanh Investment and Construction (Phuong Thanh) and Cong Thanh Investment and Construction (Cong Thanh) has received an investment licence from Quang Ninh province, Vietnam to upgrade the National Highway 18's Ha Long-Mong Duong section.

The governor of the US state New York, Andrew Cuomo, said he wants to spend US$22 billion over the next five year on maintaining aging roads and bridges. Cuomo also wants to give the agency responsible for maintaining the state’s major cross-state tolled freeway, the 920km Thruway, $1 billion so the agency – New York State Thruway Authority - can freeze tolls at their current rate until 2020. US media reported that his plan would also eliminate tolls for agricultural traffic. He would also offer a t

In the Algerian province of Oran, construction of the second ring road linking Belgaid to El-Kerma is 60% complete and should be open by June. Also, the motorway between Oran port and the East-West motorway, costing around $448.46 million, is due to be complete in July 2017, according to a report in Le Quotidien d'Oran. Work is being done by the Algerian-Turkish group ENGOA-MAKYOL and the project is being overseen by Agence nationale des autoroutes (ANA). Widening of the CW46 linking Sidi Marouf to

Financially delinquent contractors working on Indian projects will, from now on, find they are labelled a “non-performer” and barred from further work until they remedy their cash flow. The move by the National Highway Authority of India (NHAI) is an attempt to speed up site work and complete public-private partnership road projects on time. Under the new policies, firms that delay construction or fail to inject their share of capital into their projects will be barred from participating in fresh bids un

The cost of building the Padma Bridge in Bangladesh will be nearly three times the US$2.61 billion estimated in 2011. Also on the rise is the cost of flood prevention work in the form of levee construction – called river training in Bangladesh. The addition of 1.3km of work at the Mawa end of the bridge means the total cost is now $1.2 billion, up from $1.1 billion. Apart from $200 from the $1 billion loan from India the project is not using any foreign financing, according to a report in the Daily S