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 loan from Saudi Arabia will help fund construction of a major road link in Kenya. The US$27 million package is being provided on a 30 year loan by the Saudi Monetary Fund. This will be used to help pay for a $130 million project to build the new Mudogashe-Nunow road with work commencing in 2014.
A new road connection is being put forward for Ecuador, with the project expected to cost in the region of US$1.14 billion. The 44km connection would include a viaduct section over the Guayas River and connect the southern part of Guayaquil with Duran. The contract would require the road and viaduct to be constructed within a four year timeframe and would allow for a 40 year period to maintain the route.
There are questions over the funds available for Slovakia’s Visnove Tunnel project. A former Transport Minister believes that the Transport Ministry will face challenges finding €664 million needed to build the tunnel, which forms part of the D1 highway.
