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.
Major highway projects are seeing progress in India. The US$1.52 billion Zojila Pass tunnel project is being planned in the state of Jammu and Kashmir. The project has been awarded to local road development firm IRB Infrastructure Developers (IRB). The 14.08km tunnel is expected to take seven years to complete. The concession for the project is for 22 years. As part of the deal, IRB will oversee the construction of 10.8km of approach roads on Srinagar-Sonamarg-Gumri Road in Jammu and Kashmir.
Russia’s road building programme looks set to be cut due to economic issues - Eugene Gerden writes
The Russian Government is considering a significant cut to the existing road building programme for the current year. This is due to a current economic crisis in the country, caused by Western sanctions as well as a collapse in the price of oil and gas.
Sacyr subsidiary Sacyr Concesiones is leading a consortium to will build and operate the Road 2 and Road 7 routes in Paraguay. The Road 2 route will connect Asunción and Coronel Oviedo. Meanwhile the Road 7 route will run from Coronel Oviedo to Caaguazú. Construction is expected to cost US$520 million with the concession package being for a period of 30 years. The Route 2 and Route 7 combined deal is of note as this will be Paraguay’s first PPP for a highway project. The consortium is headed by Sacyr Conces
