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.
Work on El Salvador's Carretera Longitudinal del Norte (CLN) highway will now include additional sections. This has been made possible due to cost savings made in previous tenders. A seventh section of the highway will now be built between Corinto en Morazan, Lislique and Anamoros, in the department of La Union.
Mexico, Indonesia, Nigeria, Turkey – Global Report offers up some food for thought about where smart money might be headed within the next several years – David Arminas writes
China’s rate of growth may be slowing down, but other South East Asian companies are being quick to offer alternate investment opportunities, notably Indonesia.
Nigeria, too, has had issues with security of investment. But there are signs that the government may be getting serious at last about tightening up rules and regulation
A new road planned in Honduras will connect San Pedro Sula with Puerto Cortes. The project cost has been estimated at US$150 million. Plans also include additional works to help reduce congestion in San Pedro Sula. Coalianza is the agency in Honduras that handles the promotion of public-private partnerships (PPPs) and has said that the tender process is due to commence in October 2014.
Austrian construction giant Strabag reported output volume of €13.6 billion to year end 2014 was unchanged from last year. The publically listed group, with headquarters in Vienna, said declines in contracts in some countries were offset with increases in the home markets of Germany and Austria, despite a “very restrained tender award policy” for the public sector. Large projects were completed in Romania and Russia at the same time that newly acquired orders in these markets have not yet come on stream.
