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.
Hungary will spend just over €218 million (US$242 million) on road renovations this year, according to the State Secretary of the Hungarian Ministry of National Development.
Laszlo Taso, head of infrastructure development within the ministry, made the announcement and said more than 500km of roads, both trunk and secondary, would be upgraded.
Hungary announced in January that it is considering introducing a vehicle congestion charge scheme in the capital Budapest at the end of 2016. The scheme will he
A loan worth US$230 million from the World Bank will help pay for a major highway upgrade in Bolivia. The highway connects San Ignacio de Velasco and San Jose de Chiquitos in Santa Cruz. The funding will pay for the route to be paved with a new surface, which will help deliver lower journey times for road users, as well as improving safety levels. The upgrade to the road will help to increase capacity and will also provide a boost to the local economy in the Santa Cruz area of the country.
Serbia said it signed two road construction agreements with China during the 16plus1 Summit in Dubrovnik, Croatia earlier this month.
The two deals are for construction of the Pozega-Boljare and Novi Beograd-Surcin road routes. The Pozega-Boljare project alone is worth €2 billion and will be financed from the existing loan from the Exim Bank, according to media reports.
China’s east-west Belt and Road Initiative was the focus of the annual 16plus1 Summit that brought together leaders from Beijing plus
In Panama the highway operator ENA is looking for funding for work to key road stretches on the North and South corridors. The work is expected to cost US$260 million. The work will include a new 10km stretch as part of Phase II of the Brisas del Golf - 24 Diciembre road at a cost of $114 million. The construction work will be carried out by Mexican firm Ingenieros Civiles Asociados (ICA), which will receive $52 million from the Fiduciary Fund for Development. The rest is still to be sourced. Various soluti
