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.
The Slovakian government is being asked for financial compensation by Granvia, the group building the country’s new Nitra-Banska Bystrica highway.
Granvia is building the highway under the PPP model through a 30-year concession deal. The compensation has been requested due to delays that have been caused by the need for archaeological investigations along the route.
Construction of the new highway in India connecting Mumbai with Nagpur will commence in early 2018. The highway will be one of the largest construction projects in India as it will measure 701km long, running through 10 districts. It will cost US$7.09 billion to construct, with $5.4 billion of the funding necessary being provided in the shape of a loan from South Korea. The work is expected to take 36 months to carry out with the Maharashtra State Road Development Corp (MSRDC) managing the project.
India's Government is continuing with its huge highway investment programme, with the Indian Road, Transport and Highways Ministry planning to announce US$15.66 billion worth of contracts in the 2011-2012 period.
