Virginia cancels Ferrovial road contract for US460 construction

The Transport Department of the State of Virginia in the US plans to cancel a contract worth an estimated US$1.12 billion for road construction awarded to Spanish firm Ferrovial. The deal ends 15 June and the two parties are negotiating compensation terms for Ferrovial which won the contract in October 2012 for US-460. . Work was to begin in 2014 and finish in 2018 but no construction has taken place. The road, awarded in consortium with American Infrastructure, was to be 88.5km and run between the c
May 6, 2015 Read time: 1 min
RSSThe 5131 Virginia Department of Transportation in the US plans to cancel a contract worth an estimated US$1.12 billion for road construction awarded to Spanish firm 2717 Ferrovial.

The deal ends 15 June and the two parties are negotiating compensation terms for Ferrovial which won the contract in October 2012 for US-460. Work was to begin in 2014 and finish in 2018 but no construction has taken place.

The road, awarded in consortium with American Infrastructure, was to be 88.5km and run between the cities of Petersburg and Suffolk

Meanwhile, for winter maintenance operations between October 2014 and March this year, more than US$1 billion was spent by 23 US states. According to the American Association of State Highway and Transportation, more than 6.07 million litres of de-icer and 544,000tonnes of salt were used by the state of Massachusetts alone.
Finance & Funding

For more information on companies in this article

Related Content

  • Norway agrees funding for road repairs
    June 29, 2023
    Construction and civil engineering association EBA says the allocated €103 million will go a long way to shoring up road maintenance requirements on national roads.
    Read More
  • Kazakhstan ring road moving forward
    June 29, 2015
    Plans are progressing in Kazakhstan for the project to construct the Big Almaty Ring Road. A number of investors are involved in financing the project and are planning to invest US$1.2 billion in the ring road. The contract will include construction and operation of the project. Strong interest has been shown in the project by the EBRD, the Asian Development Bank, IFC, and the Islamic Development Bank. Meanwhile according to Kazakhstan's Committee of Roads, the economic effect of the Western Europe-Western
    Read More
  • Serbia’s pan-European Corridor X is in the slow lane
    October 23, 2017
    It’s been slow progress on Serbia’s Corridor X project. Gordon Feller reports. Back in the early 2000’s, the European Union undertook an ambitious programme to link the main cities of its south-eastern region. This involved connecting five key seaports – the Greek cities of Patras, Igoumenitsa, Piraeus and Thessaloniki as well as Romania’s Black Sea city of Constanta. Initially the plan involved two motorways across Greece. The first was a new 780km route including a branch to Ormenio on Greece’s north-eas
    Read More
  • Australian state government does a deal with East West Connect
    April 15, 2015
    The state government of Victoria in Australia will pay the East West Connect consortium US$258 million to cancel construction of Melbourne’s East West Link road tunnel. The payoff is to cover the consortium's bidding, design and pre-construction costs and draw a line under the deal that has been mired in financial controversy for years. The federal government slammed Victoria’s decision to bail out of the project as “an obscenity’’ that will cost 7000 jobs, according to a report in The Australian news
    Read More

Highlighted Content