Finance & Funding

New loans will help pay for road building in India’s Kerala State. The World Bank is providing a package of loans worth US$216 million. This will be used to upgrade and widen 363km of roads in Kerala State. The work forms part of the Kerala State Transport Project (KSTP), specifically for the second phase of the State Highway corridor programme.

Indonesia is planning to construct more tolled highways as well as bridges. One novel proposal is for a new tolled road that will run along the sea dike protecting the Jakarta Coast. This new road is intended to lower congestion levels in North Jakarta by providing an alternative route to existing links. Indonesia’s Transport Ministry is working with the Korea International Partnership Agency and the Dutch Water and Infrastructure Management Agency on the National Capital Integrated Coastal Development (NC

A major long term financing package has been secured for highway projects in India. The National Highways Authority of India (NHAI) will benefit from a credit package worth nearly US$ 3.4 billion. This is being provided by the Life Insurance Corporation of India (LIC). The deal involves bonds issued for a 30-year period. India has also announced plans to continue with its massive road development programme. By 2024/25, the $10.8 billion road development programme will have extended the country’s network b

A Canadian firm is taking over three highways in India from Essel Highways. The US$472.8 million deal is for the the Essel Devanahalli Tollway in Karnataka state, the Lebad-Jaora highway in Madhya Pradesh and Essel Dichpally Tollway in Telangana. The Canadian company is Caisse de dépôt et placement du Québec (CDPQ)

A Chinese contractor is expressing interest in building a major bridge connection in Bangladesh.

Funding is now secured for the Budimir-Bidovce stretch of Slovakia’s D1 highway project. In addition, the funding for the Kosicke Olsany-Hrasovik stretch of the R2-R4 expressway has been secured. The EU’s Cohesion Fund will supply €173 million for the work, which is intended to cut congestion and journey times. New interchanges and noise reduction systems will be built. Also included will be the construction of 23 new bridges.

As many as 25,000 bridges in France are considered in poor condition according to research. In a bid to tackle the problem, there have been calls for an annual budget of €120 million for the next 10 years to improve bridge condition. There are an estimated 200,000-250,000 bridges in France. An additional fund of €130 million/year is proposed to tackle the problem of ageing tunnels in France.

Bosnia is investigating a series of road financing solutions. The country intends to borrow €150 million to construct the Corridor 5C highway project. A loan from the European Bank for Reconstruction and Development (EBRD) is expected to provide much of the financing required, however the terms have still to be finalised.

The proposed Western Harbour Tunnel and Beaches Link project in Sydney, Australia is coming in for renewed focus. Financing institutions are being invited by the New South Wales State Government to enter discussions over providing backing for the project. The new route will be one of the largest motorway construction projects for Australia should it get the go ahead. The work could cost US$9.9 billion (A$14 billion).