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 being provided by the Japan International Cooperation Agency (JICA) will help pay for road upgrades in the Kyrgyz Republic. The money will be used to improve and upgrade the Osh-Batken-Isfana highway. The US$100 million loan is to the Kyrgyz Republic Government for a period of 40 years at 0.25%/year, with a grace period of 10 years.
In Russia a series of road projects planned to improve connections to Moscow’s Domodedovo Airport have been cut. The new roads connecting to Domodedovo Airport are required for the 2018 FIFA World Cup. But with Russia cutting its federal budget for road development, the projects have halted. Projects affected include the reconstruction of five sections of the A105 federal highway to the airport, construction of four interchanges and nine pedestrian overpasses. The work was expected to cost a total of US$206
A crane firm in Ecuador, Transportes Noroccidental, has added four new Terex RT 100US rough terrain cranes to its fleet. Transportes Noroccidental chose this particular model because of the Terex RT 100US crane’s high performance, as well as its ability to cope with the tough terrain in which the firm’s machines frequently have to operate.
“We own several Terex crane models and are happy with the performance and durability of these machines,” explained Edgar Fabian Andrade, CEO of Transportes Norocciden
A loan worth US$1.20billion for the Padma Multipurpose Bridge project has been cancelled by the World Bank (WB).
The decision was said to have been taken as the Bank was not satisfied with the actions taken by the Bangladeshi government in regards to corruption allegations involving the bridge contract. A major engineering and construction company is alleged to have made improper payments to Bangladeshi government officials in order to secure the bridge contract. The World Bank loan, signed In April last y
