A recent U.S. Nuclear Regulatory Commission report noted that safety-related structural welds at the Savannah River site’s Mixed-Oxide Fuel Fabrication Facility, or MOX, failed to meet industry specifications, according to The Augusta Chronicle.
The Export-Import Bank of China is in the final stages of striking a deal with two real estate magnates to complete construction of the stalled, $3.5-billion Baha Mar Resort project in the Bahamas.
A consortium of three Canadian pension funds on Nov. 12 agreed to acquire for $2.8 billion the 7.8-mile Chicago Skyway toll road that extends from central Chicago to the Indiana state line.
The Nevada Department of Transportation kicked off the largest construction project in state history earlier this month when it named Arizona-based Kiewit Infrastructure West Co. the design-build contractor for Project NEON, the 3.7-mile widening of Interstate 15 between Sahara Avenue and the “Spaghetti Bowl” interchange in downtown Las Vegas.
Shortly before Congress adopted a measure to help curtail individual surety fraud, an appellate court decision seemed to make it more difficult for contractors who use individual surety bonds on public project bids to compete.
A massive Dept. of Defense authorization bill that, at press time, was awaiting President Obama’s signature includes a provision to eliminate much of the fraud in individual surety bonds.
One of the first priorities of new House and Ways Committee Chairman Kevin Brady (R-Texas) is expected to be a push to extend tax credits that expired at the end of 2014.
When, as expected, President Obama signs into law the National Defense Authorization Act, a new military spending bill, he probably won’t know about Section 874, which upgrades the minimum standards for surety-bond assets.
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