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.
Much of the necessary funding has now been secured for construction of the first section of Chile’s Americo Vespucio Oriente (AVO 1) highway. A loan package worth US$832 million is being provided jointly by a number of funding bodies. These are; Banco Estado, Bci and Banco de Chile. In all the project is expected to cost $984 million. The construction work is being carried out by a consortium comprising Sacyr and Aleatica (formely OHL Concesiones).
A funding arrangement has been agreed between Ghana and China to pay for road construction works. The package is for a US$646.6 million deferred payment deal. It has been set up with Sinohydro to cover an engineering, procurement and construction (EPC) contract. This will be for upgrade and improvement work for roads and interchanges. The package is the first in a series worth up to $2 billion that will pay for various major infrastructure projects in Ghana. One of the projects will include building a road
