Chile's Ministry of Public Works has revealed that work on the Vespucio Oriente highway will now cost US$2 billion.
March 1, 2012
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906 Chile's Ministry of Public Works has revealed that work on the Vespucio Oriente highway will now cost US$2 billion. The complexity of the project is the cause for the cost increase. The tender process for the project should commence by mid-2012. The project will be for a 13km length and much of it will run underground, with the route crossing seven districts. Work is expected to begin in 2014.
Chile's highway system has fared remarkably well considering the severity of the massive earthquake that struck the country a few days ago. This is a crucial factor in ensuring that emergency help, food and other aid can reach the worst affected area in the south of the country quickly. The Vespucio Norte highway collapsed and while the Costanera Norte route was slightly damaged, the Vespucio Sur and Autopista Central highways were unaffected.
Implementation of some large-scale investment projects for road building in Russia’s capital Moscow may be significantly delayed
A series of major documentation issues are the cause of the problem. These have delayed projects for up to nine tenders on the total sum of US$2.6 billion (95 billion rubles), with anomalies having been found by the Russian Federal Anti-Monopoly Service.
Successful talks have been held between Chile and Argentina regarding the planned Agua Negra road tunnel that will link the two countries. Further talks will be carried out with regard to financing the project but these look set to be completed towards the end of August 2014, according to a report from Business News Americas. One option is for Argentina’s Government to pay for the construction with the costs being recovered through tolling but other financing solutions have also been discussed. The Agua Neg
