Chile, Argentina greenlight US$1.4bn tunnel
Chile and Argentina agreed that each country would provide financing for their share of the US$1.37bn trans-Andean Agua Negra tunnel, removing a critical obstacle to launching a tender. Argentina will contribute US$986mn, given that 72% of the tunnel will be located on its side. Chile will provide the remaining US$384mn. Chile's public works minister Alberto Undurraga and his Argentine counterpart Julio de Vido signed the deal.
BNamericas – 8/27/2014
Paraná again suspends US$2bn metro tender
Brazil's Paraná state audit court suspended for a second time a 4.67bn-real (US$2.06bn) tender launched by state capital Curitiba to build and operate the city's first metro line. Although the tender bid submission date was set for Monday, court representative Ivan Bonilha has decided to uphold a suspension decision by public works supervisory board Difop, based on various irregularities, the state government said in a release.
BNamericas – 8/27/2014
FY15 construction machinery shipments seen to rise 1%
Japanese-made construction machinery shipments are expected to rise 1 percent in fiscal 2015 from the current fiscal year, according to an industry group.
The Japan News – 8/27/2014
Estimate: Economy will grow by 1.5 percent in 2014
The Congressional Budget Office said Wednesday that they expect the U.S. economy will grow by just 1.5 percent in 2014, in part because of a poor performance during the first three months of the year.
CBS News – 8/27/2014
Major projects proposed for Philippines
The Philippines is setting major targets for road development in coming years. A planned budget of US$2.59 billion has been set for infrastructure in the city of Luzon for 2015. And the Department of Public Works and Highways plans to pave some 32,227km of the country's national roads by 2016, with only 83% so far having been paved.
World Highways – 8/26/2014
Vermeer Announces Family Succession Plans
As part of its family succession planning process, Vermeer Corporation announced that third-generation family member, Jason Andringa, will serve as the company's next President & CEO effective Nov. 1, 2015.
Underground Construction – 8/26/2014
Holt Cat opens new store in Edinburg
Holt Cat opened a new, 47,000 sq. ft. facility in Edinburg, Texas. The store will offer a range of services, from Caterpillar machine sales, rentals, parts and service to comprehensive rebuild capabilities and custom product fabrication.
Pit & Quarry – 8/26/2014
$100M infrastructure fund announced for rural Ontario
Ontario's Premier Kathleen Wynne and Agriculture, Food and Rural Affairs Minister Jeff Leal recently announced the provincial government will provide small, rural and northern municipalities with an annual $100 million infrastructure fund.
On-Site – 8/26/2014
Etesco-Tulipa among top bidders for Brazil's largest dredging project
The Etesco-Tulipa consortium is likely to have offered the lowest price to dredge Brazil's busiest port - Santos in the state of São Paulo. The group, bidding on the country's largest port tender project of the year, put in the second best offer during the last tender launched for the port in May, bidding some 579mn reais (US$254mn). However, it has just handed in a more competitive bid, local daily Valor Econômico reported, without stating the price.
Valor Econômico – 8/25/2014
Chile's MOP considers taking on environmental procedures for concessions
Chile's public works ministry (MOP) could take on responsibility for environmental procedures required for certain concessions, local paper Diario Financiero reported. Environmental procedures have caused problems with projects like the Américo Vespucio Oriente expressway in Santiago and Route 66 (Camino de la Fruta), which concerns the local private sector, the report said.
Diario Financiero – 8/25/2014