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.
An agreement has been reached for the projects to widen Route 2 and Route 7 in Paraguay by the various bodies involved. The Consorcio Rutas del Este joint venture partners have agreed terms with the Inter-American Development Bank (IADB), UBS and the Ministries of Public Works and Communications and Finance. UBS is providing financing worth US$250 million while the IADB is providing $200 million. Consorcio Rutas del Este, which comprises Sacyr, Mota Engil and Ocho A, is providing $83 million meanwhile. Cons
A loan of US$415million from the US government’s Transportation Infrastructure Finance and Innovation Act programme will help meet the cost of building toll lanes and rebuilding existing lanes at the Interstate 35 highway (I-35W) near Fort Worth, Texas. The works are part of the $2.5billion North Tarrant Express project, which is currently under construction in the northeastern part of Tarrant County, Texas. A consortium of companies led by Spanish toll road developer Cintra, NTE Mobility Partners is behind
Extra funding will help improve the road link connecting Malawi and Zambia. The African Development Fund (ADF) is providing a loan worth US$73.6 million for the fourth phase of the Multinational Nacala Road Corridor Development project. This route connects Malawi and Zambia and is of major economic importance to both nations, but particularly for Malawi as its transport connections with its neighbours are not well developed. The ADF is providing loans of $7.7 million to Zambia and a loan of $65 million to M
A novel system in the Ecuadorian capital of Quito requiring public transport operators to share a payment fund has been joined by 80% of operators. The new system aims to reduce competition on the roads, as, prior to adoption of the payment fund approach earlier this year, different operators sought to transport as many passengers as possible, due to their income being based on the money earned from passengers on their routes each day.
Under the payment fund operation, money earned enters a joint fund w
