Finance & Funding

A major auction of construction machines has been carried out successfully in Dubai by the specialist firm Euro Auctions The firm says that it has consolidated its Middle East position with its second Dubai sale. According to Euro Auctions, the firm saw increases in buyers and vendors at the one-day plant and machinery sale. The company held its first Dubai auction in September and has now carried out a successful follow-up event that attracted more buyers and vendors. The firm saw an increase in the

The T50 Summit of the World Construction Machinery Industry was held in Beijing towards the end of 2017. The event was jointly organised by China Construction Machinery Industry Association, the American Equipment Manufacturers Association (AEM) and Korea Construction Machinery Manufacturers Association. Because of its high profile, T50 is one of the most influential summits in the industry.

Ukraine’s capital Kiev will benefit from a new ring road – Eugene Gerden writes The government of Ukraine, together with the authorities of the Ukrainian capital Kiev, plans to invest up to US$2 billion in the building of a new ring road around the city. The new road, known as the Great Ring Road, will be around 200km long, of which 65km will be of existing roads and 148km of new roads. The ring road will connect three international transport corridors that run through the territory of Ukraine, as well

Upgrade work is now underway on a key section of National Road No3 in Cambodia. The 134km stretch connects Kamput with Bek Kus and the work will cost US$200 million. The Cambodian Government has budgeted to carry out the upgrade work. The financing for the project is backed by a loan from China, as is the project to build a 187km ring road around Phnom Penh.

Federal funds will help finance transport infrastructure upgrades in the Australian states of Victoria, Tasmania and South Australia. Road and rail projects will be carried out in all three states, with the road works intende dto cut congestion and improve journey times. Victoria State is planning a transport budget of US$5.88 billion (A$7.8 billion), with key projects including $1.32 billion for the North East Link road and widening a stretch of the Princes Highway between Traralgon and Sale for $99.5 mill

China’s Guizhou Province is setting out a massive budget for road expansion to boost access to rural areas. This will see the construction of some 50,000km of roads in 2018. In all US$3.15 billion is being spent on road development. So far 35,000km of road projects are underway in Guizhou Province with nearly 9,400km of road jobs already having been completed. By the end of the second quarter of 2018, all of the planned projects within this programme of works will be underway or complete.

The Spanish government has calculated the cost of rescuing Spain's nine bankrupt motorways at €1.8 billion. This is about 10% less than previously estimated, according to a report in the Spanish financial newspaper Expansión. The government has been trying for the past three years to facilitate a deal with banks to get the motorways out of debt and so to not add to the state’s own debt. Many of the nine projects were built prior to the financial crisis and traffic volumes were optimistically high.

A series of highway upgrades are being planned for the Bay Area in northern California, with the necessary state financing now being secured. Interstate 101 is to benefit from the construction of additional tolled lanes in a project costing US$233 million, which is expected to help cut congestion along one of the busiest sections of the route through the Bay Area. A project costing $85 million will also be carried out in I-101 close to Novato. Meanwhile road works costing $730 million will be carried out