Finance & Funding

Financially delinquent contractors working on Indian projects will, from now on, find they are labelled a “non-performer” and barred from further work until they remedy their cash flow. The move by the National Highway Authority of India (NHAI) is an attempt to speed up site work and complete public-private partnership road projects on time. Under the new policies, firms that delay construction or fail to inject their share of capital into their projects will be barred from participating in fresh bids un

The cost of building the Padma Bridge in Bangladesh will be nearly three times the US$2.61 billion estimated in 2011. Also on the rise is the cost of flood prevention work in the form of levee construction – called river training in Bangladesh. The addition of 1.3km of work at the Mawa end of the bridge means the total cost is now $1.2 billion, up from $1.1 billion. Apart from $200 from the $1 billion loan from India the project is not using any foreign financing, according to a report in the Daily S

JCB has now set up a finance programme for customers in South Africa. The firm has formed a strategic alliance with ABSA Bank, acting through its Vehicle & Asset Finance division (ABSA) under the trading name of JCB Finance in South Africa. The new JCB Finance facility will be available to all of JCB’s dealers in South Africa. David Dolbear, general manager Financial Solutions Africa at JCB said, “The introduction of JCB Finance to the South African market will help us to deliver innovative financial so

Terex Trucks is appointing Babcock to provide dealer cover for the Southern African market. According to the firm, partnering with one of Africa’s most established and experienced equipment suppliers will help boost the sale and support of Terex Trucks’ rigid and articulated haulers. Babcock will also provide parts and other essential aftermarket support services to customers in South Africa and neighbouring countries. Terex Trucks will support Babcock by providing a range of commercial and technical resour

The firm is steadily moving up the size scale with its machines, introducing heavy equipment aimed at the extraction industries, in addition to new and more versatile machines for construction users and road machinery. The firm is working hard to develop new large excavators and trucks to meet demand from the extraction industries. The large excavators and rigid trucks are now a key part of the product range as XCMG wants to increase its profile in the extraction sector. The company has also struck an a

The Texas Department of Transportation is poised to give the go-ahead to US$1.27 billion worth of freeway to start this year. Plans include extensions to Texas 249 and US 290 in order to give Waller County greater access to major freeways and tollways, according to media reports. The biggest project, which is expected to begin this summer, is the addition of toll lanes to Texas 288, costing $800 million. Work will also be carried out at interchanges between the 288 toll road, Loop 610 and the Sam Hous

The Peruvian Ministry of Transport and Communication has confirmed that by July nearly 20,000km of the Red Vial Nacional national highway network will be paved. The figure means nearly 87% of roads in Peru will be paved. In 2011, around 12,500km of the network was paved, according to a report by America Economia. The ministry also highlighted that regions such as Amazonas and Ayacucho, will have doubled the number of paved kilometres since 2011. Amazonas will rise from 36% in 2011 to 72% this year, wh

The Nepalese Government is planning to spend a healthy US$ 1.3billion on developing major infrastructure projects. New roads and highways as well as energy projects are being prioritised. Funding will be provided jointly through the World Bank and the US Government body the Millennium Challenge Cooperation (MCC), as well as the Government of Nepal. The Kathmandu-Tarai Fast Track project has been suggested as a top priority. One-third of the funding will come from the World Bank, MCC and government while the