Finance & Funding

MISK wins tender for Moscow’s Yuzhnaya Rokada road The Moscow Engineering and Construction Company (MISK) has won the tender for construction of the second section of Moscow’s Southern lateral highway. MISK was the only contractors tendering for the contract, worth nearly US$74.3 million, for the section called Yuzhnaya Rokada. Details include construction of 5km of road, essential side lanes, more than 300m of overpasses and turnoffs. Work is expected to take nearly 20 months. The tender win co

The Swiss government has created a fund for street and urban transport works to help ease what it says will be a deficit of around €1.26 billion each year up to by 2030. The fund will be created from a rise in road fuel tax from €0.27 to €0.33. Added money will come from a tax on electric vehicles due to start in 2020 and which will raise around €84 million a year, rising to around €275 million. The road maintenance fund also will receive around €366 million from taxes on imported cars and €320 mil

A series of loans from the Inter-American Development Bank (IADB) will help finance transportation projects in Costa Rica. Totaling around US$1 billion, the loans will allow a substantial package of works to get underway. This will be of major importance to Costa Rica as it will unlock several key road and transport projects so far held back by the availability of suitable funding. However, the Costa Rican authorities have yet to announce all the road projects intended for construction. So far only three hi

The minister of equipment, transport and logistics has launched a US$154 million project to improve the road linking Marrakesh to Ouarzazate. The four-year project will be financed two thirds by the equipment ministry and one-third from the provinces through which runs the 146km route. The project includes plans to double a 27km stretch of road between Marrakesh and Aït Ouri, as well as widen the pavement between Tadart and Aït Ourir over 63km. The 81km section between Tichka summit and Ouarzazate

Construction of Adelaide’s Northern Connector project will start early next year after financing was recently agreed between the federal and South Australia state governments. The federal government will pay for 80% - US$562 million - of the cost, with South Australia picking up the remaining 20% of the estimated US$702 million price tag. The road will not be a direct toll highway but the country’s first network fee expressway where trucks are charged on the basis of road use. The road is proposed

India’s ministry of transport and highways is seeking an additional US$1.17 billion on top of a record spend for road construction and maintenance. The ministry has already earmarked nearly $11 billion for the year 2015/16. The government recently announced plans to build a new 600km highway connecting Katra with New Delhi. The route, costing around $2.25 billion, will run through Punjab, Haryana, Jammu and Kashmir states. A consultant is being selected to carry out a feasibility study for the project

A series of major highway infrastructure projects are planned for the Philippines. Plans are in hand for the Cavite-Laguna Expressway (CALAX) project, with MPCALA Holdings calling on the authorities to give final approval so that construction can commence before 2017. MPCALA Holdings is a subsidiary of conglomerate Metro Pacific Investments (MPIC) and won the 35-year contract to build, operate and maintain the CALAX in June 2015. The CALAX project is worth US$754.6 million. At present, the company is lookin