Finance & Funding

India is continuing with its ambitious plans for road network development. A number of banks have given assurances that they will provide the necessary funding to pay for nearly US$19 billion of highway projects. The projects will be carried out under the engineering, procurement and construction model according to India’s Ministry of Road Transport & Highways. One of the plans under the wider road development programme is to develop India’s cross-border links with its neighbours. This calls for the const

Taiwan has set a US$4.6 billion budget for infrastructure development, with road transport works accounting for 25.8% of the financing.

Spain’s Acciona, working with Leonhard Nilsen & Sonner and Multiconsult, has picked up a €420 million contract for construction of 23km of Norway’s E6 motorway. The work, between the towns of Ranheim and Vaernes, was awarded by state-owned motorway operator Nye Veier. It involves construction of a four-lane motorway section for vehicles travelling at a maximum speed of 110kph.

Hitachi Construction Machinery (Europe) NV (HCME) has upgraded its European mini excavator factory to boost manufacturing efficiency. The firm has officially opened its mini and compact excavator factory at Oosterhout, in the Netherlands. The new 8,000m2 facility is the result of an extensive modernisation programme, which commenced in January 2018. The firm says that the upgrade will increase efficiency at the factory that is responsible for producing the ZX10 to ZX85 models. It will also meet the growing

Chile’s landmark Chacao Bridge project now looks to be back on a sound footing, with completion expected in late 2022 or early 2023. This projects for the 2.6km-long bridge was to have been built jointly by Brazilian firm OAS and South Korean company Hyundai. However OAS hit financial difficulties and had to withdraw from the project. As a result, Hyundai will now buy the 49% stake OAS had in the project. As Hyundai already has a 51% stake in the bridge project, this will give the firm total ownership ove

Funding has been secured to help pay for road rebuilding work in Puerto Rico. The US Federal Highway Administration (FHWA) is providing US$110 million to Puerto Rico’s highway and transportation agency, Autoridad de Carreteras y Transportacion (ACT). This funding will be used for Puerto Rico’s Road Construction and Reconstruction Accelerated Programme.

A series of road upgrades and safety improvements will be introduced across the network in Ghana. In all US$154 million will be provided in a loan from the World Bank Group's International Development Association (IDA) for a series of road projects. The IDA loan has a 20-year repayment period. The improvement programme calls for improvements and upgrades to 370km of roads in the north of Ghana. Meanwhile new management practices will also be introduced to Ghana’s transport sector in a bid to boost its effic