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

  • Increased infrastructure spending
    February 22, 2012
    With economies booming in the BRIC countries and other regions, spending on infrastructure is at a high - Patrick Smith reports As economic crisis grips much of the world, many countries are still spending billions on infrastructure to improve transportation. While the USA and Europe struggle with debt problems (and this has affected much of the rest of the world) the development of highways, airport, ports and other infrastructure is gathering pace in other regions to boost economic developments.
    Read More
  • Russian road concession deal agreed
    June 7, 2017
    A concession package has been agreed for a toll road project in the Bashkortostan Republic. The US$512 million construction project will provide a new link from the M5 Ural highway route to Ufa, the capital of the Bashkortostan Republic.
    Read More
  • Brazil launches new transport infrastructure investment plan
    August 30, 2012
    The Brazilian government has announced a new transport infrastructure investment plan involving the concession of motorway operations and modernisation of the railway sector. The private public partnerships are predicted to lead to an investment of US$65.68 billion (BRL 133bn) in the next 25 years, including US$ 39.63 billion (BRL 80bn) to be spent in the first five years of the contract.
    Read More
  • Rwanda road building planned
    June 9, 2017
    A US$89.7 million finance package from the World Bank will pay for the construction of a new highway in Rwanda. The project calls for the construction of a 66.5km highway, which forms part of a larger plan to build a 117km route from Ngoma to Nyanza.
    Read More

Highlighted Content