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
Read time: 1 min
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.
Financing has been secured for road rebuilding work in Ecuador. The Development Bank of Latin America (CAF) will provide US$192 million for road maintenance work. The deal was agreed with Ecuador’s Ministry of Transport and Public Works. As a result of the deal, road repairs and improvements will now be carried out in Napo, Manabí, Esmeraldas, Chimborazo, Canar, Azuay and Orellana. New construction machines, 43 in all, are being supplied for the work.
A road widening project worth US$134.3 million is now going ahead in Ecuador. The road connecting Aloag with Santo Domingo is being improved along a 100km stretch, widening the route so that it will feature two lanes in either direction instead of the single lane in either direction at present. This will boost the transport connection between Pichincha Province and Santo Domingo de los Tsachilas Province. The contract was originally awarded in 2015 but stalled in 2017 following a disagreement over tolling.
Ecuador is to invest about US$ 10bn in major motorways, with construction to start during 2013. The roads will reduce journey times, boost safety levels and benefit the road freight sector. Officials say that 6,440km of the 7,280km of road works carried out in the last six years have been completed. During 2012, around 11 million tourists travelled by the country’s roads. The most significant road projects in Ecuador include Manta (Ecuador)-Manaus (Brazil) road, linking the Pacific Ocean with the Atlantic,
