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.
A 162km stretch of Ecuador’s highway route 40 is to be upgraded, improving the road’s safety and capacity. The section of highway being improved includes the stretch that links the town of Santa Elena, which lies on the Pacific Coast, with the city of Guayaquil, on the Guayas River. The contract now includes work to 30km more of the highway than was originally planned. The contractor Verdu is to carry out the PPP deal, which is expected to be worth US$231 million over the 20-year concession period.
The authorities in the US state of Ohio continue to investigate new methods of generating revenue for highway investment. The state is facing a funding shortfall of up to US$1.6 billion on its highway maintenance and expansion plans to meet traffic volume needs. As a result, the Ohio Department of Transportation (ODOT) is moving forward with a plan to explore the commercial development of certain state-owned rest areas. The state is pursuing the conversion to service plazas of five of the state’s 59 non-int
