The State Government of New South Wales (NSW) has awarded a A$450m ($336.4m) upgrade contract to the joint venture (JV) of Downer and Seymour Whyte for the development of the Princes Highway.

The JV will upgrade the 10.5km-long stretch between Beery and Bomaderry on the Princes Highway into a four-lane divided road, as part of the contract.

The upgrade is expected to begin in mid-2018 for scheduled completion by 2022.

Highways England has entered a £3.3bn ($4.5bn) framework arrangement with 11 firms for the resurfacing of major A roads and motorways in England.

The works will be carried out for a period of four years.

The framework agreement eliminates the need of a bidding process before awarding a contract.

It will further make the maintenance of uneven roads faster and more economical.

“Highways England has entered a £3.3bn ($4.5bn) framework arrangement with 11 firms for the resurfacing of major A roads and motorways in England.”

Roads Infrastructure Agency of Bulgaria has signed a contract with the World Bank to receive advisory services for the seamless implementation of national electronic tolling system in the country.

The international financial institution will further provide technical communication support, technical assistance and quality assurance, as part of the contract.

Central Nippon Expressway Company has secured A$200m ($149.96m) through the placement of international bonds in a public offering.

The bonds will yield an annual interest rate of 2.91% until they mature in May 2021.

Based in Japan, Central Nippon Expressway offers expressway design and construction services.

Indian civil construction services provider Montecarlo intends to raise up to Rs4.5bn ($66.74m) through the placement of shares in an initial public offering.

The offering will involve the issue of approximately three million shares of Montecarlo.

Edelweiss Financial Services, Axis Capital, and IDFC Bank are the book-running lead managers for the offering.