Finance & Funding

Regional roads in Russia look set for a revamp during 2015. Some US$6.64 billion will be spent on Russia’s regional roads, according to the Rador association. This compares against the $5.8 billion spent on repairs and revamping of Russia’s regional roads in 2014. The aim is to build and maintain some 1,620km of Russia’s regional roads in 2015, compared with 1,249km achieved in 2014. Russia’s regions allocated $3.23 billion for road repairs and maintenance in 2014. This plan saw improvements to 9,219 region

Indonesian toll road operator Jasa Marga is keen to source funding to finance 10 new highway projects. The company is looking for loans in the shape of bond issuances as well as from banking firms. The 10 highway projects will extend for a total distance of 272.45km in all. Jasa Marga hopes to source loans worth a total of US$215.46 million for the work. However in all the projects are expected to cost some $306.37 million to construct.

Cambodia is continuing with the construction of a key highway project. Work is now underway on building National Road No58. The project has been by a number of Chinese companies, which are investing some US$122 million into the 174km road. The new road will link Samrong city in Uddor Meanchey Province with Poipet City in Banteay Meanchey Province. Construction is being carried out by Chinese contractor Shanghai Construction (Group) General Company. Completion of the construction work is scheduled for August

In Australia funding has now been sourced for the Townsville Ring Road project. The country’s Federal Government is supplying the US$122.52 million (A$160 million) required for the Townsville Ring Road project. This road will connect Mount Low and Shaw Road in Queensland. The Queensland State Government will supply the remaining $30.6 million (A$40 million) required to complete the budget needed for the project. The Townsville Ring Road is scheduled to open for traffic in 2017. This new route is needed to c

The Brenner Base Tunnel could be financed by highway users according to a proposal by the Italian Ministry of Transport. The authorities in South Tyrol have suggested that the EU may forego new tenders and recalculate the concession period so that it is for a longer timeframe. This would be of benefit both to the Italian Government (which has budgetary restraints), and the EU. Highway operator Brennerautobahn, in which the Italian regions of Trentino and South Tyrol have a 32.2% stake, already provides €30

In Canada the British Colombia Government has announced a programme of road and highway upgrades worth a total of US$1.99 billion (C$2.5 billion). The investment will be used to rehabilitate side roads, highways and bridges across the province. This plan will include repaving some 1,000km/year of provincial highway, with this plan stretching out over a period of 10 years. A key portion of the work will be to widen Highway 1 section to six lanes between Abbotsford and Langley. The proposed plan has been titl

The Nepalese Government is now moving forward with its plans for the Kathmandu-Tarai Fast Track highway project. The Indian firm Infrastructure Leasing & Financial Services (IL&FS) has been awarded the contract to prepare a detailed project report (DPR) for the project. Following earlier issues with regard to sourcing suitable financing, the Nepalese Government now plans to construct the highway link using the Public-Private Partnership (PPP) and build-own-operate-transfer (BOOT) model. The maximum cost of

Deutz reported new orders received in 2014 totalled €1,379 million, which was 16.4% below the record figure reported for 2013 (€1,649.7 million). The number of engines sold rose by 6.7% year on year from 184,028 units in 2013 to 196,403 in 2014. This was largely due to stronger demand in the mobile machinery application segment. By contrast, new orders fell significantly in the automotive and agricultural machinery application segments. Corporate revenue was up 5.3% to €1,530.2 million (2013: €1,453.2 milli

San Miguel Corporation, Metro Pacific Investments Corporation and an unidentified firm reportedly are bidding in the US$1.25 billion re-auction for work on the Cavite-Laguna Expressway. The deal involves building, operating and maintaining the 47km four-lane toll road for 35 years under a public-private-partnership. The sum includes a $448 million bid price, equal to the premium offered by SMS subsidiary Optimal Infrastructure Development during the first tender for the project in June 2014. San Miguel was

A final financing agreement for Turkey's 421km Gebze-Izmir motorway project will be signed by nine banks, eight of which will be Turkish, in April. The agreement will be for around US$4.73 billion of the deal likely to cost in total more than $6 billion and which is the country’s largest public-private partnership project. The banks are Deutsche Bank and Turkish banks Akbank, Garanti Bankasi, Finansbank, Is Bankasi, Halkbank, Ziraat Bankasi, Yapi Kredi and Vakfbank. Work has been going on since 2010 for the