Finance & Funding

Panama is working on projects to construct two new bridge crossings over the Panama Canal. According to the Panama Canal Authority (ACP), work is progressing well on the project to build the third bridge over the Canal. The project is costing around US$570 million, of which USD 382mn have been already allocated. The bridge is due for completion in 2017. Meanwhile Panama's Ministry of Public Works (MOP) is opening the tender process to build select the project manager for the project to build the fourth brid

Japanese funding will help pay for the construction of a key bridge link in Sri Lanka. The Japan International Cooperation Agency (JICA) is providing a loan worth US$292.14 million for the bridge project. The new link will span the Kelani River.

A study by Danish consultant Hans Schjær-Jacobsen has shown that the payback period for the proposed Fehmarn Belt Fixed Link tunnel project between Denmark and Germany will be close to 50 years. This is a decade longer than estimated by the developers of the project which focusses on a 17km immersed tunnel, the study noted. The Fehmarn Belt Fixed Link will connect the German island of Fehmarn with the Danish island of Lolland. The 17km tunnel, including two railway tunnels, two motorway tunnels and an

The European Investment Bank (EIB) has expressed an interest in funding construction of the Nis-Pristina highway. This link would provide a new link between Nis in Serbia and Kosovo’s capital, Pristina. The EIB may also fund various other regional construction projects. Details of the Nis-Pristina highway project have not been disclosed however. Currently, there are a total of five active EIB's loans for work in Serbia, worth €759 million, for the Corridor 10 motorway, and rail and road infrastructure proj

An investigation is being carried out into the project to build a coastal road in linking Saint-Denis and La Possession in the French island of Réunion. This investigation is being carried out by a Paris court and is focussing on allegations of corruption in the awarding of contracts. The project is worth US$1.79 billion and is aimed at improving traffic links. The existing road is often closed due to rockfalls but the project to build the new link has been criticised for its cost and its environmental impa

Paraguay’s Ministry of Public Works and Communications (MOPC) will award a series of road projects worth around US$1.3 billion in early 2016. These project include work on the first section of the bi-oceanic corridor, the reconstruction of Route 9, the expansion of Routes 2 and 7 and the second bridge connecting Paraguay with Brazil. The tender process for Route 9 from Remanso Bridge to the city of Mariscal Estigarribia will open shortly and the project is expected to cost around $380 million. The tender fo

The China Communications Construction Company is to take part in the second and third construction phases of Tehran’s north highway project. A memorandum of understanding signed earlier this year marks the first time a Chinese contractor has worked in Iran. The second section covers around 23km and includes a 6.5km tunnel and a 16.5km highway. The third section spans about 45km, of which 38km will be through tunnels. Total cost is around US$2 billion, with the second section costing $500 million.

Uzbekistan plans to build around 2,700km of roads by 2019 at a cost of around US$590 million. Around 2,280km will have a bituminous concrete surface and 418km will be a concrete surface. In July, the World Bank said it will grant Uzbekistan a $200 million loan for 25 years towards paying for the $240 million Regional Roads Development project that is scheduled to be completed by 2021, according to UzDaily.uz. Uzbekistan’s government also reported that around 117km roads were built in the first half

Planning is in hand for the construction of Russia’s Silk Route's section. The Silk Road project is intended to connect China with Europe by road. The stretch in Russia will link Moscow’s Central Ring Road to Kazakhstan. The cost of this stretch of the road project estimated at around US$11.8 billion. The route will run from Europe to Western China and will be 8,500km long in all, of which 2,189km will run through Russian territory. The total spending on the construction of the whole length of the road is e

Tunisia’s Ministry for Infrastructure, Housing and Coastal Development has a substantial budget set out for its road development programme. This schedule of works will be for the 2016-2020 period with some US$3.9 billion directed at road expansion and upgrade work. Of this budget, around $ 661 million will be spent on major highways and $712 million for major trunk roads. Meanwhile the roads in capital Tunis will see spending of some £406.8 million while $381.3 million will be directed towards road maintena