Finance & Funding

The Colombian department of Antioquia has transferred operation of the Guillermo Gaviria Correa road connection to the National Infrastructure Agency (ANI). ANI will, in turn, cede the concession to the Mar 1 Devimar consortium. The road, named after the assassinated governor of Antioquia, runs between the municipalities of Medellin and San Jerónimo and connects Medellin to the Uraba Gulf, part of the Caribbean Sea. Gaviria, a Nobel Peace Prize nominee, was kidnapped by guerrillas and held captive for

UK-based contractor Balfour Beatty has exited from Balfour Beatty Infrastructure Partners (BBIP) which has rebranded as Basalt Infrastructure Partners. Basalt is now an independent fund management business that is 100% owned by the partners of the firm - Rob Gregor, Steven Lowry and Jeff Neil. “Basalt’s investment strategy will continue to focus on mid-market infrastructure assets in the energy, transport and utilities sectors in Western Europe and North America,” according to a Basalt statement.

Ritchie Bros., the global equipment auctioneer, will hold its first unreserved public auction in the UK after the country voted to leave the European Union. New and used equipment from the construction, transportation and agriculture sectors will be on the block at Donington Park, near Nottingham, England, on July 12. A spokesperson for Ritchie Bros., based near Vancouver in Canada, said hundreds of items will be up for sale. He said it will be interesting to see how, if at all, the UK government’s d

New road construction work in California will help cut congestion on existing routes. The work is costing close to US$104 million and will commence later in 2016 to the north of the city of San Diego. The funding for the work is coming from the California Transportation Commission (Caltrans). The work will form part of the $700 million North Coast Corridor Programme, which is being administered jointly by the San Diego Association of Governments (SANDAG) and Caltrans. North Coast Corridor Programme includes

French access group Haulotte and the Turkish access distributor and rental group Acarlar continue to contribute to major infrastructure projects in Turkey, including the new Osman Gazi Bridge. The bridge – the third Bosporus crossing - has just been completed with the installation of the last bridge deck. The bridge will reach a height of 252m and the bridge deck will be nearly 26m wide. When it soon opens, the bridge will be the fourth longest suspension bridge in the world by the length of its central

Canada’s provincial British Columbia government has issued a request for qualification for construction of a US$2.7 billion bridge over the Fraser River around the city of Vancouver. The 10-lane bridge will be built under a 30-year public-private partnership agreement and will include tolled transit lanes and related Highway 99 improvements between Bridgeport Road in the adjacent city of Richmond and Highway 91 in the city of Delta. The 60-year-old tunnel now carries its limit of 80,000 vehicles a day an

Financing looks to have been secured for major tolled highway projects in Indonesia. These highways are the 129km Pekan Baru-Dumai route, which forms part of the Trans-Sumatra highway, the 60.5km Cileunyi-Sumedang-Dawuan (Cisumwadu) road and the 39km Manado-Bitung route. A loan from the Asian Infrastructure Investment Bank (AIIB) worth some US$370.2 million is expected to provide around half of the financing required for the Pekan Baru-Dumai route. Meanwhile loans worth a total of $300.2 million from the Ex