Finance & Funding

A joint venture featuring John Holland, Samsung C&T and Leighton Contractors (Leighton) has secured a deal to build and design Sydney’s M4 East motorway. The M4 East forms part of a project to build the WestConnex road tunnel, completion of which is expected in 2023. The M4 East is planned to be ready in 2019, while the WestConnex road tunnel is the biggest transport infrastructure of its kind in Australia. The deal won by the joint venture partners is valued at US$2.1 billion. The WestConnex project is pla

Several major infrastructure projects are being prioritised in Indonesia by the country's government. In all 10 infrastructure projects are seen as so crucial for the country’s development that they will be pushed forward, so that work can commence during 2015. Because of the importance of the projects, companies may be appointed directly, instead of a formal tender being issued. The Indonesian Government is setting up a framework to provide legal protection for those ministries trying to speed up infrastru

A financing deal has been signed for a series of major road projects in Sri Lanka. A second loan facility worth US$107 million has been agreed between the Sri Lankan Government and the Asian Development Bank (ADB). This loan facility will be used to finance road upgrade projects in Sabaragamuwa Province, North Western Province, Western Province, North Central Province and Central Province. This loan forms part of the $800 million Integrated Road Investment Programme planned by the Sri Lankan Government. The

Montenegro is ensuring it has sound financing in place for the new Bar-Boljare highway that will link it with Serbia. The country has a €687 million loan in place for the project that was provided by China's Exim Bank. The country’s Ministry of Finance is setting out a strategy that will protect it from risk. The loan was provided (in US$) for a 20 year repayment period, with a grace period of six years. However Montenegro’s Ministry of Finance is taking steps to prevent any future currency fluctuations fro

In Mexico the tender process is being developed for a major new highway project. The US$466.5 million highway project will be built under the PPP model. The 83km route will provide an improved connection between Las Varas, Bucerias and Puerto Vallarta. The country's Secretariat of Communications and Transport (SCT) is preparing the tender at present. Mexican construction firm Impulsora del Desarrollo y el Empleo en America Latina (IDEAL) initially put forward a proposal for the project, which looks likely t

The World Bank is offering Ethiopia a loan worth US$370 million for the construction of a new expressway. The Ethiopian Roads Authority (ERA) will use the loan to construct the 57km Batu Ziway-Arsi Negele section of the 203km Modjo-Awassa expressway. The loan will be repaid over 38 years with six years of grace period. The Modjo-Awassa expressway has four sections, with the 52km Arsi-Negele section to be funded by China EXIM Bank. Korea EXIM Bank will finance the 37km Meki-Ziway section and the African Deve

IRB Infrastructure Developers has won the Agra-Etawah Bypass project with a winning bid of nearly US$416.5 million, Indian media reported. The project, awarded by the National Highways Authority of India (NHAI), will have six lanes built onto the Agra-Etawah Bypass in Uttar Pradesh state under NHDP Phase 5 of the Build-Operate-Transfer (BOT) Toll model. The 15km Agra-Etawah Bypass runs between the Uttar Pradesh cities of Agra - home to the iconic Taj Mahal mausoleum – and Etawah on the banks of Yamuna

Moscow-based infrastructure group Doraeroproekt Institute will design a bridge over the Samur River under an agreement between Russia and Azerbaijan. The new bridge will carry around 37,000 vehicles a day and link the two villages of Samur in Azerbaijan and the Russian village of Yarag-Kazmalar. The announcement follows the signing by the two governments of a bridge protocol in mid-2013 as part of other infrastructure project agreements. Azerbaijan will finance bridge construction and Russia will c

The tender process is being planned for the Myanmar-Korea Friendship Bridge, which will connect Myanmar’s commercial centre Yangon to Dala Township. Over $137 million in loans have been pledged by the Korean Economic Development Cooperation Fund to develop the 1.87km long suspension bridge. The tender process will be international and the work is due for completion by 2020. In all the project is expected to cost in the region of $168 million.

An official opening has been carried out for Australia’s Legacy Way Tunnel. The 4.6km route located in Brisbane, Queensland is open to traffic. The construction project was handled by Transcity, formed by Spanish contractor firm Acciona along with BMD Constructions and Ghella. This is the first major project in Australia with which Acciona has been directly involved. The project was awarded in 2010 and cost in the region of US$1.64 billion to construct. It was originally due for completion in late 2014. The