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.
Construction of the Russian stretch of the highway connecting Europe with China should be complete by 2018. This section of the project is costing close to US$22.6 billion. The international transit corridor from Europe to Western China is of key economic significance. The first sections of the Russian portion of the route form part of the new high-speed federal highway M-11 from Moscow to St Petersburg. About 40% of the highway will run through the Volga federal district. The 8,400km long international tra
Despite the recent failure of the Turkish Government’s tender for the project to build a third bridge over the Bosphorus, the deal may yet go ahead. Japanese firms Itochu, Obayashi, IHI and Mitsubishi have revealed that they are still interested in constructing a third bridge over the Bosphorus at Istanbul, as well as constructing the associated tolled highway.
