Finance & Funding

A district court in the Polish town of Olsztyn has ruled in favour of a consortium of Budimex and Ferrovial Agroman which challenged the awarding of a ringroad contract to a rival. The ruling means that the Salini consortium’s winning bid for the construction of a ringroad around Ostroda is overturned on the basis that it was ineffectually low. This means that the contract will go to the Budimex consortium which proposed to build the road for around €223 million. Polish builder Budimex is the consortium's m

Between 80-90km of highway will be constructed in 2015 to add to Romania’s national network of around 700km. Narcis Neaga, general manager of the Romanian National Company for Highways (CNADNR), made the announcement. He also said that only 50km were built last year, which was less than half that constructed in 2013. It was also announced that a Romanian consortium comprising Lemacons, Vega 93 and Arcada had signed a contract with CNADNR this month, worth nearly US$43 million. The consortium will build a mo

The invitation to tender for the Kairouan-Sousse motorway will be issued in early September, according to Tunis Afrique Press. Mohamed Salah Arfaoui, the Tunisian Minister for Infrastructure, Housing and Territorial Development, made the announcement, saying that the project is expected to cost around US$70 million. Financing will be aided by the World Bank, he added. Meanwhile, construction started in November on the last part of the Trans-Sahara Highway connecting the Algerian capital Algiers to the Niger

The Perm Region Development Corporation, a 100% government-owned company, has sold 75% of its business International Airport Perm to Novaya Kolkhida. Novaya Kolkhida, controlled by Roman Trotsenko's Novaport, has said it will construct a terminal complex including a road network, hotels and a logistics centre. The new terminal will cost nearly $180 million and the whole project, including road junctions, hotels, and a transport and logistics centre will cost around $486 million. The terminal should be deliv

The Kuwait Fund for Arab Economic Development (KFAED) is to contribute US$28.5 million towards the X20 ring road of greater Tunis, according to a report in L'Economiste Maghrébin. An agreement was signed on 17 March between Yassine Brahim, the Tunisian minister for development, investment and international cooperation, and Ahmed Al Badr, the managing director of KFAED. World Highways reported in June 2013 that the government was moving ahead with plans for the 80km ring road expected to cost around $365 mil

Plans are moving forward in Turkey for the construction of a new tunnel project. This new link will run under the busy Bosporus waterway and will connect Kucuksu on the Anatolian side and Gayrettepe on the European side. Approval for the work has been given by the Istanbul Municipality Council. And the timeline for the project calls for the route to be ready for use in five years time In all the route will pass through 12 districts, so some further approvals will be necessary however. The route will feature

Four highway concessions will be due for tender shortly. The country’s Secretariat for Communications and Transport (SCT) is working on these four motorway concessions and intends to open the tender process in the next few months. The highway projects being considered for tender include a new link Indios Verdes and Santa Clara, the Las Varas-Puerto Vallarta connection, the Tulum highway and Orizaba highway. SCT recently put the Hermosillo highway project out to tender recently and this is generating interes