Finance & Funding

Serbia will enter into talks with two Chinese companies chosen through a tender process that expired this month for restarting construction on the stalled Corridor 11 motorway. Serbian Minister of Construction Zorana Mihajlovic said Shandong Hi-Speed Group and the China Road and Bridge Corporation qualified for tender participation. Work includes construction and maintenance of 17.6km of motorway near Belgrade, between Surcin and Obrenovac as welll as the 31km Preljina-Pozega road and maintenance of t

Interest is strong in the tender for Brazil’s proposed Rio-Niteroi bridge project. So far three groups have expressed an interest in tendering for the project, EcoRodovias, Arteris, and current contract holder CCR. The tender will commence on March 18th 2015. A number of other groups had shown interest but will duck out due to legal issues relating to the Lava-Jato case that is ongoing at present. Brazil’s national land transport agency ANTT has set a maximum tariff value for the bridge toll at US$1.89 (BRL

The Isle de France region, essentially the Paris area and extensive surrounding countryside, will spend around €365 million on road infrastructure as part of a five-year transportation plan from this year up to 2020. The overall plan calls for an investment of of €7.3 billion, of which €2.9 billion will come from the central government and €4.4 billion from the Isle de France region. Around EUR €4.5 billion will be used to finance public transport, according to a report by Le Moniteur des Travaux Publics

In Costa Rica plans are now moving forward with a project to widen the highway connecting capital San Jose with San Ramon. The project looks likely to cost in the order of US$440 million. The Costa Rican Government has given its approval for a trust fund financing system for the project. Plans to carry out the widening work were delayed earlier when Costa Rica’s Government cancelled a contract with construction company OAS, leading to compensation claims.

An end to a thorny issue is close at hand concerning who will fund construction of a border customs plaza on the US side of a planned bridge linking Canada and the United States. US President Barack Obama’s US$4-trillion budget did not set aside any money for the plaza for a second consecutive year, further irritating Canadian officials who are overseeing construction of the bridge. It appears that the Canadian government might end up footing the entire bill, according to a report in Toronto’s Globe a

A new highway project is planned for Colombia, which will be designed and constructed under a PPP concession. The Colombian Government awarded the project to Grupo Odinsa. This will be the country’s second PPP highway project and is expected to cost in the region of US$513 million to construct. The complete 325km project includes building a ring road in Villavicencio, as well as works between Villavicencio-Acacias, Villavicencio-Apiay and between Puerto Gaitan-Puente Arimena. Colombia’s National Infrastruct

Romania’s National Company for Highways has selected four joint ventures to build the 56.5km Campia Turzii - Ogra-Targu Mures highway, costing around €268 million (US$303 million). Strabag of Austria and Straco of Romania will build the two sections, while Straco will join forces with Specialist Consulting and Total Road to build another section. Lemacons, Vega 93 and Arcada will build the Targu-Mures-Ungheni section, the last stretch. The four Campia Turzii to Ogra-Targu Mures highway is part of the A3

Columbia’s transport minister has said it will take nearly US$168 million and more than two years to finish the controversial La Linea tunnel. Natalia Abello Vives said the government has a “plan B” to finish the 8.65km tunnel, which, as World Highways reported in May, has less than a kilometre remaining to be constructed. It was originally scheduled to be open by last November. The La Linea tunnel project, or Segundo Centenario tunnel, crosses the central mountain range and forms part of the Bogota-B

The Venezuela Government has plans in hand for 52 road projects that will commence during 2015. Close to US$42 billion will be invested in infrastructure projects. The Land Transport Ministry will invest $315 million and USD 911mn will be spent on road repairs and upgrades alone. Several major road projects are due to get underway and include the widening of the Valle-Coche highway and the La Rinconada-Caricuao and San Diego-Valencia tunnels. They also include the extension of the Francisco Fajardo road and