Finance & Funding

Chinese firms continue to handle key deals in Africa, with agreements now in place for major projects in both East and West Africa. In Ethiopia, China's MCC 17 Group will handle a US$53 million package of works for the Ethiopian Roads Authority. This deal is for the construction of a 91.6km section of road linking Mizan with Dima. Construction work is due to commence in August 2013 and the new road will connect with Addis Abeba. The road forms part of a 260km link that will connect Mizan to Boma in South Su

Financing from Taiwan will help develop road infrastructure in Guatemala. Both the Taiwanese Government and private Taiwanese sources are supplying funding streams to Guatemala for transport infrastructure development. The Taiwanese Government is donating US$50 million to help improve the section of the Atlantico road connecting Sanarate and El Rancho. Taiwan is also providing a further $50 million in the shape of a loan for the project. This loan will be repayable over a 20 year period. The Atlantico road

Financing for a road project in Mozambique is being provided by a bank in India. The Exim Bank of India is proving a line of credit worth some US$147.7 million for the road upgrade project. Mozambique is seeing steady investment in its infrastructure and this latest project will improve transport links in the country.

Ritchie Bros sold around US$3.9 billion of equipment at 328 unreserved equipment auctions around the world in 2012. This represents a 5% increase in gross auction proceeds over 2011 and the highest gross auction proceeds in the company’s history. The firm achieved gross auction proceeds of $1 billion in the fourth quarter of 2012 alone, highlighting the strong industry demand for used machines. Ritchie Bros says that it also attracted record online bidder registrations and sold approximately $1.3 billion of

International Equipment Solutions (IES) has acquired Siac do Brasil from SIAC and its affiliates. IES and SIAC have agreed to cooperate in the future. IES was formed in September 2011 as a platform for investments serving the construction, agriculture, landscaping, infrastructure, recycling, demolition, mining, and energy industries.