Finance & Funding

Europe’s contractors’ association, the FIEC, has criticised the EU’s new public procurement package, describing it as a missed opportunity. “The EU institutions did not seize the opportunity to solve one of the most severe shortcomings of the existing public procurement directives,” said Ulrich Paetzold, FIEC director general. “I mean by that the identification and treatment of abnormally low tenders, which is a real curse in the construction sector.” Today’s adoption by the European Parliament of the thre

Work is underway on an important highway improvement scheme in Vietnam. The project involves upgrading the Gia Lai-Binh Dinh section of National Highway 19. The work is being carried out under the build-operate-transfer (BOT) model. The actual construction work is scheduled for completion during 2015. The project is costing US$95 million and involves work to a 56km section of the route. The concession package has been agreed under a 22 year deal.

Two important bridge projects are planned for Indonesia. The South Korean firm Samsung is keen to build a 6.7km bridge to link Bintan Island with the free trade zone (FTZ) located in Batam Island. The copmany has been in discussions with the Indonesian Government with regard to the project, which will also include developing a container port in Batam's Tanjung Sauh and is likely to cost in the order of US$576.5 million in all. Meanwhile plans are in hand for a new 600m bridge to be developed in Jayapura. Th

The Brazilian Government looks set to finance work to upgrade key highways in the country. This move comes although the highways were privatised in the 1990s, according to a report by Business News Americas. The work looks likely to cost as much as US$1.7 billion and will be carried out on highways that are operated by CCR and Triunfo Participações e Investimentos (TPI). Although the routes were privatised, the Brazilian Government will finance necessary upgrades as this includes highway expansion work not

Ritchie Bros Auctioneers sold some US$3.8 billion of equipment at 356 unreserved auctions around the world in 2013. This is a 3% decrease in gross auction proceeds (GAP) compared to the record set in 2012. During the fourth quarter of 2013, the firm achieved gross auction proceeds of $1.1 billion, a record for the fourth quarter and an increase of 10% compared to the same quarter of 2012. "We achieved some notable milestones during 2013," said Peter Blake, CEO of Ritchie Bros. "In Canada, our most establi

In the US state of California, construction is now underway for the State Route 91 (SR-91) Corridor Improvement Project. This improved section for SR-91 will run through the Corona and Riverside, both of which are located in Riverside County. The project will extend the SR-91 Tolled Express Lanes in Orange County into Riverside County, a distance of 17.6km. This includes a 13km stretch into Riverside County on SR-91, with a 5km flyover connecting to Interstate 15 from SR-91. Riverside County Transportation

The authorities in Paraguay have agreed a funding package with the Latin American Development Bank (CAF) for a series of infrastructure projects in the country. The funding comes in the shape of a US$222 million loan and this is the first time that the CAF has approved funding of this size for the country. This will provide partial funding for the Programme for the Improvement of Integration Corridors and Road Reconstruction. Projects included in this include resurfacing of a 73km section of road in Neembuc