Finance & Funding

Serbia’s Minister of Construction and Infrastructure, Zorana Mihajlovic, has said that work on the Fruskogorski Corridor motorway will start in the middle of next year. However, she also said talks are due to be held regarding financing of the project. A tender for technical documentation for the project is ongoing and due to be completed by March 2016. The project value has not been mentioned, according to a report by the Serbian news wire agency Tanjug.

According to the Rosavtodor Federal Road Agency, a decision on a contractor for reconstruction of the northern section of the St Petersburg Ring Road, worth nearly US$96 million, has been suspended. The federal public institution St. Petersburg's Transport Bypass Construction Directorate, which manages the road, could not give any details regarding the suspension. The tender was announced in the end of 2014 and a decision on a contractor had already been postponed from June 30 to August 25.

Ecuador's Transport and Public Works Ministry will receive proposals for a 95km motorway between El Oro and Guayas provinces this month. Seven firms are reportedly interested in building the motorway under a 30-year concession and work could start by the end of the year, according to a report in the Telegrafo newspaper. The motorway will have three toll booths that each will charge US$1.50. (EUR 1.37) each. The winner will operate the concession for 30 years. The road will have a length of 95kms. The c

Work could begin in November on a 4km section of the Circunvalacion Norte northern ring road around the Costa Rican capital city San Jose. The section will connect the Pan-American Highway with Route 32. But delays in agreeing land expropriation have hindered the start of work.

XCMG is developing its overseas activities with a programme called 'One Belt, One Road'. Representatives from 18 countries recently travelled to XCMG’s headquarters in China to launch the firm’s new Overseas Service Activity. This is focusing particularly on service support for customers involved in the New Silk Road project. The launch event was followed by a seminar at XCMG, with officials discussing business opportunities deriving from the 'One Belt, One Road' strategy. This forms part of a drive by t

Bobcat recently introduced its S450 skid steer loader at an open day run by its Kuwait dealer. Bahrah Trading Company (BTC) is the Authorised Dealer for the Bobcat equipment range in Kuwait and part of the Al-Sayer Group of Companies. The event was held at the Kuwait International Fair Ground at Mishref, where Bobcat loaders, telehandlers, excavators and attachments were demonstrated alongside Doosan Heavy and Doosan Portable Power products for which BTC is also the Authorised Dealer in Kuwait. Bobcat co

Russia is setting out its budget plans for transport infrastructure investment. In all a healthy US$43.92 billion is being planned for transport infrastructure development in Russia during the 2016-2018 period. This will be used to maintain and repair existing routes as well as to develop new links. Road projects figure highly in the spending although investments will also be made into rail and air transportation.