SoftBank has agreed to invest $2.25bn in GM Cruise Holdings, the autonomous vehicle unit of General Motors (GM).

GM intends to use the investment to commercialise the autonomous technology from 2019.

GM will invest an additional $1.1bn in its autonomous vehicle unit upon completion of the transaction.

The investment will be made in two instalments and will enable SoftBank Vision Fund to acquire 19.6% stake in GM Cruise.

The Government of India has secured a $500m loan from the World Bank to fund its Pradhan Mantri Gram Sadak Yojana (PMGSY) Rural Roads Project.

The loan will be used for the construction of 7,000km-long climate resilient roads using green technologies.

It will also enable the implementation of low-carbon designs and advanced technologies for the development of rural road network.

“Ferrovial has secured a $309m contract through its subsidiary Webber for the expansion of highways SH 146 in Houston and IH-10 in San Antonio in Texas, US.”

The International Bank for Reconstruction and Development (IBRD) will disburse the loan, which has a maturity period of ten years.

Ferrovial has secured a $309m contract through its subsidiary Webber for the expansion of highways SH 146 in Houston and IH-10 in San Antonio in Texas, US.

The contract will see the conversion of SH 146 into a six-lane road and the construction of a 3.8km bridge at Galveston Bay.

The road between IH-410 and Loop 1604 on IH-10 will be converted into a six-lane road and new bridges will also be constructed.

Construction works are scheduled to start in October 2019 and will be completed by 2024.

Michigan Department of Transportation (DOT) has signed a three-year agreement with Inrix, a US-based transportation analytics company.

Inrix will provide traffic solutions to assist the DOT in monitoring road operations, reducing associated costs and identifying key areas for improvement.

The DOT will also utilise real-time data provided by Inrix to manage traffic on the road network in Michigan.

The Texas Department of Transportation (TxDOT) has awarded a Wave 2 Traffic Engineering indefinite-delivery indefinite-quantity (IDIQ) contract to Iteris.

The $3m contract includes design and timing of intelligent transport systems and integration of traffic signalling systems.

Little, a taxi-hailing firm based in Kenya, has secured KES300m ($2.93m) in gross proceeds from an equity financing round led by an Indian financial technology firm.

The funding round enabled the firm to own a 10% stake in Little.

Sichuan Road & Bridge Group intends to secure CNY2.5bn ($389.4m) through a debt offering of convertible bonds.

The gross proceeds from the offering will be used by the company for investments in public-private-partnership (PPP) projects and strengthening its floating capital reserves.

Based in China, Sichuan Road & Bridge Group offers road and railway construction services.