News

Asian Development Bank (ADB) will provide a loan worth US$95million to Kazakhstan for the reconstruction of the Western Europe - Western China highway. The 20-year loan will be given with a four-year grace period at interest rate of LIBOR+0.4% for each interest-paying period. The overall cost of the Western Europe-Western China highway project is US$ 112million.

A number of major contractors building highways in Spain are demanding compensation to the value of €1 billion from the Ministry for Public Works for having delayed the approval of these projects for an average of 12 months.

Roads in and around Portugal's capital Lisbon require extensive investment to build new links and upgrade existing sections. The projects include widening the IC19 highway, building the CRIL ring road and construction the new Norte-Sul section and these will require investments of €453 million. The road concession for the IC16 and IC30 highways will cost €256 million and while the last stretch of CRIL linking Pina Manique and Pontinha is attracting an investment of €112 million.

AVERY Weigh-Tronix, one of the world’s biggest suppliers of weighing equipment and solutions, has completed the takeover of UK-based weighing specialists Central Weighing. Peggi Trimble, general manager, industrial division for Avery-Weigh-Tronix (AWT), said the acquisition would give AWT the opportunity to expand its “global reach” and “bring added-value, innovative products to the market by leveraging existing distribution networks”.

German engine manufacturer Deutz has replaced its existing funding arrangements with a new syndicated loan. The working capital facility totalling €160million is being provided by a syndicate of German banks. The credit line is unsecured and runs until June 2017. In addition, Deutz has received a low-interest loan amounting to €90 million from the European Investment Bank. This loan, which is also unsecured, is repayable over a period of eight years with a grace period of two years. Deutz has hedged the in

A change in financing arrangements has been announced by the local authorities in Russian city St Petersburg for the Orlovski Tunnel project. This move is being made due to changes in terms and costs for the project, which is for the construction of a new road tunnel under the city that is intended to alleviate congestion.

Extreme weather conditions cost the EU’s transport system at least €15 billion/year. This is the result of a study carried out by the Finnish VTT Technical Research Centre. The study reveals that the greatest costs incurred are from road accidents, with the associated material and psychological effects. Costs arising from accidents are expected to decrease in volume, although time-related costs attributable to delays are projected to increase. In part, this last effect is due to climate change, which has an

Seven countries have confirmed their participation in field trials for the proposed third phase of the Long Life Pavement Project, being operated under the auspices of the OECD (Organisation for Economic Development and Cooperation) and International Transport Forum (ITF).

LiuGong Machinery Corporation was given China’s Best Brand Award for Acquisition Efficiency at the 2012 Global Brand Summit. The construction machine manufacturing giant is said to have achieved outstanding results in brand building through implementing a modern and unified brand strategy. After 2008, LiuGong began cooperating with international branding and public relations companies, which is said to have greatly enhanced its brand image. The professional and effective brand promotion is said by LiuGong

The European Investment Bank (EIB) looks likely to grant Poland a loan of €1.6 billion to carry out several key infrastructure projects. Some of the money will be used to finance the A2 highway from Lodz to Warsaw; Warsaw's southern ring road and a 50km section of the A4 highway to link with Germany.

As the Norwegian Public Roads Administration plans to spend E25 billion on roads from 2010-19 (a large share will go for maintenance), UK contractor bosses claim that a lack of adequate government funding to repair roads is a greater threat to the future of UK road infrastructure than climate change.

Texas has been left with a US$2billion bill to repair its drill damaged roads, according to a senior state transport official. John Barton, deputy executive director of the Texas Department of Transportation, said the estimated bill illustrated the toll gas and oil production had taken on the US state's roads. Judge for the DeWitt County in South Texas, Daryl Fowler, believes DeWitt alone will require as much as US$342million to repair or substitute roads stretching 392 miles.

The Mersey Gateway project has been named as one of the world's most important infrastructure projects by an influential new report. The KMPG Infrastructure 100: World Cities Edition, recognises inventive and well-designed infrastructure projects from cities around the world, and has included the project as an example in innovation an impact on society. The 1km bridge over the River Mersey aims to relieve the pressure from the Silver Jubilee Bridge, and reduce journey times in peak periods.

The Inter-American Development Bank (IADB) is providing a loan worth US$200 million to Argentina’s Government that will be used for road improvements. The loan will be directed towards safety and capacity upgrades to provincial and national roads. The funds will be channelled through the government programme Programa de Infraestructura Vial Productiva II. More than 4,000 people died in road traffic accidents in Argentina during 2010 and the authorities are looking to improve the safety levels and reduce the