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 cost reductions are being seen on some key highway projects in Russia including the new ring road project in St Petersburg, where the reduction is US$192.31 million. The management of the ring road in St Petersburg has signed an agreement with the main contractors (Flora, the corporation Inzhtransstroy) to cut costs by 12-17.6% in 2009-2010. The 12% reduction is equivalent to US$32.05 million and will apply to contractors that are to complete facilities in 2009. Meanwhile the 17.6% cut is for work pla
Chile’s capital Santiago now looks set to benefit from a new road tunnel link, which will cost up to US$900 million to construct. The Americo Vespucio Oriente I (AVO I) will stretch 9km through the city and will include a tunnel section. The project has been the focal point for discussions between the local authorities as well as the companies OHL and Sacyr.
