News

The authorities in Guatemala are presently carrying out feasibility studies for an inter-oceanic logistics corridor that would connect both sides of the country.

Chinese construction equipment manufacturer LiuGong Machinery announced first quarter earnings of US$93.35 million (¥612 million; ?66.03 million) from a net profit of $905.58 million (¥5.94billion; ?640.59 million) total sales revenue.

Chinese financing will be used to pay for new road links in Sri Lanka. The China Development Bank is providing sources to funds of up to US$500 million that will pay for key road upgrades in Sri Lanka.

In the US work is now commencing on the key I-269 highway upgrade at Byhalia in the state of Mississippi. The new US$19.5 million section now under construction will complete the beltway around nearby Memphis, Tennessee.

The authorities in the Turkish city of Mersin are investing heavily in infrastructure, with a budget of US$1 billion planned.

In Russia the contractor Mostotrest will build a bridge across the Sura river on the M-7 Volga federal highway. The deal is worth US$131.3 million.

The plans for Chile's new Vespucio Oriente highway are under a question mark at present. The Chilean Construction Chamber (CChC) and the association of concession-holders (COPSA) have raised concerns over the plans by the country's government to press ahead with the construction of the 13km Vespucio Oriente highway in capital Santiago.

Work is due to start shortly to connect the Avenida Balboa and Avenida de los Poetas roads in Panama. The deal is worth close to US$777 million and includes work on the third phase of the Cinca Costera road.

The tender process is opening for Israel's Road 531 project, which will link Tel Aviv with Sharon. The highway contract will form part of the country's largest ever road project, according to the Israel National Roads Company.

The American Crisis in Transportation Coalition (ACT) has been formed to expand national understanding of the serious deterioration of America's transportation system, and to educate the public and Congress on the funding needed to save the system from continued decline.

Construction work is underway in Nepal on one of the biggest box-girder bridges ever built in the country. The bridge is located in Mid West Nepal and measures just over 1km long.

Plans are now in hand for Oman's massive new Batinah Expressway project. This 265km expressway is expected to cost US$649.25 million. The project is being divided into phases and should take 36 months to complete.

The overseas aid arm of the Japanese government has given the green light to three record loans, totaling US$670 million in support of Bangladesh's growing economy.