Deals this week: ADB, Kapsch TrafficCom JV, YIT
The Asian Development Bank (ADB) has approved $800m of financing under a multi-tranche financing facility (MFF) for improving 747km road along the Central Asia Regional Economic Cooperation (CAREC) corridor in Pakistan.
The project will improve regional connectivity and trade in the CAREC corridors.
ADB will provide the funding in three tranches of $180m, $260m and $360m respectively.
Approved in 2017, the first tranche will be used for upgrading the road infrastructure in Pakistan’s Sindh, Punjab, and Khyber Pakhtunkhwa regions, while the second and third tranches are expected to be approved in 2019 and 2021 respectively.
A joint venture (JV) of Kapsch TrafficCom and Lamise Trading has been contracted by the Zambian Government to improve road safety and traffic management in Zambia.
The JV will design, install and operate systems and solutions for traffic surveillance, vehicle speed enforcement, inspection and registration under the 17-year contract.
YIT has been awarded road maintenance contracts worth €100m ($117.66m) in Kristiinankaupunki, Oulu, Loimaa, Keuruu, Pello, Siikalatva, Lahti and Jyväskylä for five years starting from October 2017.
YIT has also won the southern regional contract of the city of Lahti.