Finance & Funding

The tender process has been extended for three highway concession packages in Colombia, according to Business News Americas. The country's national infrastructure agency (ANI) has extended the bid deadlines for the Pacífico 2 (Bolombolo-La Pintada), Pacífico 3 (La Pintada-La Virginia) and Río Magdalena 2 (Remedios-Puerto Berrío) projects. The three highway concessions are worth a total of US$1.2 billion and form part of Colombia’s Autopistas para la Prosperidad highway programme. ANI opted to delay the tend

Data from a new government report show that if all the structurally deficient bridges in the United States were placed end-to-end, it would take 25 hours to cross them while driving at 100km/h. The total distance is around 2,500km, roughly the distance between Boston and Miami. The Washington, DC-based American Road & Transportation Builders Association (ARTBA) is highlighting these findings in a new analysis of US bridge conditions. ARTBA has a list of the top 250 structurally deficient US bridges, state r

The Philippines Government is unveiling 15 key infrastructure projects worth a total of US$14 billion over the next 12 months. These will form part of the PPP project programme proposed by the Philippines Government. The projects include the $1.44 billion Laguna Lakeshore Expressway Dike project and the $313.16 million Motor Vehicle Inspection System. Meanwhile the Department of Public Works and Highways (DPWH) will be allocated a healthy $38.56 billion for road maintenance and repair activities by the gove

The European Commission is allocating the first portion of funds dedicated to the EU transport network. This first tranche is worth some €12 billion. The funds will go towards innovation, inter-modality and inter-operability. CEF, the Connecting Europe Facility, will allocate €26 billion in the period from 2014 to 2020 for transport infrastructure.

Work is underway securing the finances for key highway projects in Brazil. The tender process for the US$1.72 billio Tamoios Highway project is now underway and the bids are due in mid-May 2014, according to Business News Americas. The project involves a 30 year concession package to operate and maintain the SP-99 Planalto and Serra stretches of the Tamoios highway, connecting the coastal cities of São José dos Campos and Caraguatatuba. The contract also involves 21.5km of road widening along the Serra stre

IronPlanet, the leading online marketplace for buying and selling used heavy equipment, is this week celebrating the 14th anniversary of its first auction. “We’re excited to celebrate 14 years of growth since our first online auction,” said Greg Owens, CEO, IronPlanet. “We have attracted more than one million registered users around the globe and sold more than US$3.5 billion of equipment over the Internet. Our success is based on our customers’ recognition that IronPlanet offers the industry’s most eff

The Costa Rican Government is paying compensation worth US$28.4 million for the cancellation of a highway concession package. The compensation relates to the San José-San Ramón highway concession and is being paid to the Brazilian construction company OAS, reports Business News Americas. This follows a legal dispute over the project and is some $10 million less than OAS originally claimed in compensation. The 30 year concession package was cancelled last year due to opposition. There were allegations of a c