Finance & Funding

The Asian Development Bank (ADB) said it will provide around US$2 billion for constructing new rural roads in five Indian states, according to The Hindu newspaper. The projects in Assam, Madhya Pradesh, Odisha, Chhattisgarh and West Bengal states, will involve constructing and upgrading 31,000km of rural roads that will improve connectivity to more than 12,500 villages. The move will also provide more employment opportunities in the area, improve school enrolment and provides better remuneration for f

Indonesian state construction firm Waskita Karya said it will be developing the US$2.7 billion Bali toll road project. But the Ministry of Public Works and Housing has yet to approve the 157km project which is in the pre-feasibility study stage. Waskita Karya’s finance director Tunggul Rajagukguk also said the company might seek nearly $1.8 billion of financing this year for not just road projects but also power transmission work. Financing could be around half through bond issuance and the other half v

In Indonesia, state-controlled toll road operator Jasa Marga has secured a loan worth nearly US$124 million to finance its Medan-Kualanamu-Tebing Tinggi (MKTT) toll road project. The loan is secured from a consortium of banks that include Bank BRI, Bank Mandiri and Bank BNI. The total cost of the project is around $315 million. The tender process of the project is being conducted and the winning bidder will be revealed in May. Jasa Marga operates and manages 13 toll road concessions directly and nin

Colombia's finance minister Mauricio Cardenas said the country will gain access to a loan of US$400 million the Central American Bank for Economic Integration (CABEI) for infrastructure projects. Around $200 million will finance 4G motorway concessions. The rest will be used on projects that involve CABEI founding members such as Nicaragua, El Salvador, Costa Rica, Honduras and Guatemala. The announcement was made during the 55th CABEI governors’ assembly in Medellin, Columbia, in April. Colombia has

Brazilian conglomerate Odebrecht plans to invest around US$1.5 billion in Peru this year, the company’s head of operations for Peru said. Ricardo Boleira, said has 15 contracts for 2015 and the total value of its operations in the country stands at $13.7 billion. Around $2 billion has been invested in roads, with upwards of $500 million in irrigation projects and $900 million for energy contracts. Odebrecht is a family-owned business started in 1944 and operates in construction, petrochemicals, transp

In Honduras plans are being drawn up for the tourism corridor tollroad project. This route will connect the cities of San Pedro Sula, La Barca, El Progreso, Tela, and La Ceiba port on the Atlantic Coast, reports Business News Americas. The project has made another move forward as it has received support from the Multilateral Investment Guarantee Agency (Miga). The 200km road project has been awarded to the consortium Autopistas del Atlántico. The aim of the project is to increase economic activity and tran

In the US state of Ohio there are plans to invest heavily in infrastructure, with its largest capital improvement programme in more than a decade. The Ohio Turnpike's 2015 construction season is commencing with spending of as much as US$125 million this year on projects throughout the northern part of the state. Included in this construction season is pavement resurfacing projects and base pavement replacement for 112 mainline lane km and the rehabilitation and repair of numerous bridges along the length o

Online auction house IronPlanet will auction 165 items of used machinery and parts from across Europe on April 29. A considerable number of machines from the Nordic region will be featured thanks to exclusive packages from PON, the official Caterpillar dealer in the Netherlands, Norway, Sweden and Denmark. Machinery from Ramirent, a general equipment rental company in the Nordic countries and in Central and Eastern Europe, will also be featured. Machinery will include excavators, compactors, combine har