Ecuador grants US$210m road deal

Ecuador is to award three major road concessions worth US$210m to local firm Panavial.

An 8.5km road will be built connecting the capital Quito to the city's new international airport and the Collas highway at a cost of $50m. The E35 highway will be expanded at a cost of $120m and the Calderon-Guayllabamba road expanded at a cost of $40m.

The three schemes are part of capital city Quito’s development plan, which also involves 11 road projects to be built by local government, according to the head of Quito's transport division, Carlos Paez.

Panavial is made up of local companies Herdoiza Crespo Construcciones and Herdoiza Guerrero.

In a recent benchmarking index developed by the Economist Intelligence Unit and the Multilateral Investment Fund, Ecuador ranked second from bottom (above Venezuala) based on its regulatory climate out of 19 Central and South American regions .