Chile struggles to meet US$1.5 billion goal for tendering in 2106

The Chilean government reached its goal of tendering infrastructure projects worth US$1.1 billion in 2015, its first year in power, but will likely miss its 2016 target of $1.5 billion by next month. This has been unofficially confirmed by the Ministry of Public Works, which has stated that it will not be possible to announce new tenders over the coming weeks. The projects with delays include the new Rancagua-Alhue and Santiago-Marga Marga-Quillota roads, as well as the creation of a dual carriageway on the
February 19, 2016 Read time: 2 mins
The Chilean government reached its goal of tendering infrastructure projects worth US$1.1 billion in 2015, its first year in power, but will likely miss its 2016 target of $1.5 billion by next month.

This has been unofficially confirmed by the Ministry of Public Works, which has stated that it will not be possible to announce new tenders over the coming weeks.

The projects with delays include the new Rancagua-Alhue and Santiago-Marga Marga-Quillota roads, as well as the creation of a dual carriageway on the Ruta 5 road between Antofagasta and Iquique.

However, concessions coordinator Eduardo Abedrapo said he is confident that the objective will be met. He said that projects to be put to tender in March include the $500 million Punilla reservoir, the El Melon Tunnel worth around $128 million and the Carriel Sur airport and Nogales-Puchuncavi road, which together total $872 million.

But that leaves the government $628 million short of its $1.5 billion goal.
Finance & Funding

Related Content

  • New road tunnels for Chile’s capital
    October 21, 2021
    New road tunnels are being planned for Chile’s capital, Santiago.
    Read More
  • Waskita Karya seeks loan for Pejagan-Pemalang toll road on Java
    January 12, 2015
    Indonesian state-owned construction firm Waskita Karya will seek a bank loan of US$338 million for its work on the Pejagan-Pemalang toll project in central Java island. The project is being managed by Pejagan Pemalang Toll Road, a subsidiary of Waskita Karya. Waskita company secretary Antonius Yulianto Nugroho said the firm has enough cash resources to cover a quarter of its financial commitment on the project and is targeting bank loans to cover the other 75%. Waskita Karya plans to carry out a bond
    Read More
  • Brazilian conglomerate Odebrecht continues to invest in Peru
    April 27, 2015
    Brazilian conglomerate Odebrecht plans to invest around US$1.5 billion in Peru this year, the company’s head of operations for Peru said. Ricardo Boleira, said has 15 contracts for 2015 and the total value of its operations in the country stands at $13.7 billion. Around $2 billion has been invested in roads, with upwards of $500 million in irrigation projects and $900 million for energy contracts. Odebrecht is a family-owned business started in 1944 and operates in construction, petrochemicals, transp
    Read More
  • Indonesia uses Chinese loan to kick start major road projects
    August 26, 2015
    The Indonesian government is looking to spend around US$385 million of a major loan from China to construct three toll roads in the islands of Kalimantan, Sulawesi and Java. The three toll roads are Cileunyi-Sumedang-Dawuan (Cisumdawu) of West Java, Balikpapan-Samarinda of East Kalimantan and Manado-Bitung of North Sulawesi. China recently announced it would lend Indonesia around $1.5 billion for infrastructure projects.
    Read More

Highlighted Content