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.
Colombia's Ministry of Transport is suggesting that the Avenida Longitudinal de Occidente (ALO) road project in Bogota should be carried out by Colombian energy company Empresa de Energia de Bogota (EEB).
India’s Madhya Pradesh State is planning to improve connectivity to rural areas with a plan to improve rural roads. Funding for the work is being provided through a loan sourced from the Chinese Asian Infrastructure Investment Bank (AIIB). The loan is worth some US$140 million and will help pay for surfacing work to existing gravel roads and dirt roads. In addition, a road safety programme will be instituted across the state, using a portion of the loan.
The Moscow Construction Department has announced that the country’s financial issues will not halt current construction projects in the capital. Some US$1.23 billion will be spent on the development of roads in Moscow during 2015. The funds will be spent on building 83km of roads, 23 engineering structures, and 20 cross walks.
