Ecuador roadworks to be funded by US$367mn Chinese loan
The Ministry of Transport and Public Works in Ecuador (MTOP) has announced that a Chinese loan of US$367 million will fund the restoration of the Catamayo-Gonzanama-Sozoranga-Macara and Celica-Cruzpamba-Y del Muerto roads.
March 21, 2014
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The Ministry of Transport and Public Works in Ecuador (MTOP) has announced that a Chinese loan of US$367 million will fund the restoration of the Catamayo-Gonzanama-Sozoranga-Macara and Celica-Cruzpamba-Y del Muerto roads.
Construction has started of a second bridge over the River Pungue as part of the project to upgrade Mozambique’s Beira-Zimbabwe road.
The bridge will link the districts of Dondo and Nhamatanda in the central of Mozambican province of Sofala.
Construction of the two-lane 250m-long bridge was awarded to Chinese contractor Anhui Foreign Economic Construction Corporation (AFECC), according to a report by the daily newspaper Notícias.
Anhui will also upgrade 288km of road between the port of Beira and the tow
A key portion of the funding required for the project to build new tunnels in Sri Lanka has been secured. A loan worth US$199 million is being provided by the Korea Economic Development Cooperation Fund (EDCF) for the project, which will be carried out in the city of Kandy.
Loans from the European Investment Bank (EIB) and the EU will finance highway work in Georgia. The funds will be used to pay for the construction of the high-speed motor road running from West – East across Georgia. The EIB will give a long-term preferential credit worth €170 million, while the EU will provide a €20 million grant. As part of the project, a four lane highway measuring 52km will be built from Samtrediya – Grigoleti, while the 16km section Grigoleti - Kobuleti stretch will be repaired.
