When U.S. engineer John Frank Stevens arrived in Panama in July 1905 to take over the American effort to construct the Panama Canal, he was appalled. The endeavor to build the transoceanic waterway already was a year old and had consumed more than $128 million. “I found no organization…no answerable head who might delegate authority…no cooperation existing between what might charitably be called the departments,” Stevens wrote, as reported in David McCullough’s watershed book “The Path Between the Seas.” Slide Show Photo: ACP Current Panama Canal facilities are a tight fit for ships. Related Links: Panama Canal Third Lane Expansion
Brazil’s Odebrecht has won a $2.1-billion concession for the upgrade and new construction of the Dom Pedro Highway in the state of Sao Paulo, Brazil. The 30-year concessionaire will be responsible for the upgrade and maintenance of a total of almost 185 miles of tolled roadway traversing 17 cities between Mogi Guaçu and Jacarei the northeast of Sao Paulo’s urban center. The project is part of an ongoing effort to alleviate traffic problems in the country’s largest metro area. “We will invest ... 1.4 billion in the first six years,” says Leonardo Mala, an Odebrecht spokesman. “We will start the
Construction interests in Venezuela are watching with concern as the country struggles to recast its budget to handle new economic pressures brought on by a precipitous fall in the price of oil in the past year. More than 90% of Venezuela’s export revenue comes from oil. But petroleum prices have plummeted more than 50% in the past nine months, triggering a dramatic budget shortfall in South America’s leading oil-producing country. In a nationally televised announcement on March 21, Venezuela President Hugo Chavez unveiled a package of austerity measures and tax hikes to handle the growing economic pressures. Photo: Odebrecht Contractors
Four executives with one of the largest construction firms in South America, Camargo Correa, were arrested by Brazilian police on March 25 in connection with a yearlong corruption probe. In all, 10 employees of the firm were arrested as federal police carried out a series of raids on the company’s offices in Sao Paulo and Rio de Janiero. The operation was part of an investigation named Operation Sand Castle. Photo: Hermano Luders Itaipu dam contractor faces charges. Investigators with Brazil’s federal prosecutor’s office specializing in financial crimes say Camargo Correa was laundering money through fake companies and illegal currency traders.
Four executives with one of the largest construction firms in South America, Camargo Correa, were arrested by Brazilian police Wednesday in connection with a year-long corruption probe. A total of ten employees of the firm were arrested as federal police carried out a series of raids on the company’s offices in Sao Paulo and Rio de Janiero — part of an investigation named Operation Sand Castle. Photo: C.J. Schexnayder The Campos Novos dam in southern Brazil built by Camargo Correa and completed in 2006. Investigators with Brazil’s federal prosecutor’s office specializing in financial crimes say Camargo Correa was laundering money
As Venezuela’s government has undertaken the difficult task of recasting its budget to handle the new economic pressures — notably the precipitous fall in oil prices — construction interests are watching the developments with concern. In a nationally-televised announcement last Saturday, Venezuelan president Hugo Chavez unveiled a new initiative of austerity measures and tax hikes to meet the country’s growing budget shortfall. More than 90 percent of Venezuela’s export revenue comes from oil whose prices have plummeted more than 50% in the past nine months. Photo: Odebrecht The so-called “third bridge” over the Orinoco River in Venezuela being built by
When the financial crisis originally struck in the United States in 2007, the initial effect in Latin America was muted. That changed last year as the dramatic drop in purchases pounded commodity prices — the backbone of most Latin economies. Moreover, as investors began seeking safe havens the availability of funding shrank as well. Photo: C.J. Schexnayder Sao Paulo's Rodoanel Mario Covas, a 170-km loop encircling Brazil's largest city, is one of the key infrastructure projects officials hope will bolster the country's flagging economy. As a result, since late last year, countries across South America have launched a variety of
Three international consortiums submitted bids on Tuesday to design and build the new sets of locks for the ongoing $5.2-billion expansion of the Panama Canal. Photo: C.J. Schexnayder/ENR A cargo ship enters the Gatun Locks on the Atlantic side of the Panama Canal. Photo: Panama Canal Authority A computer illustration of the proposed locks for the Panama Canal third lane expansion project. Officials with the Panama Canal Authority – the quasi-governmental organization that oversees the waterway’s administration often known by its Spanish-language acronym, ACP – accepted bids in a ceremony in Panama. The canal authority has previously projected the lock
While cement remains the most widely used building material in the world, its ubiquity has proven to be a blessing and a curse for large cement companies. Stalled construction worldwide has spurred a dramatic slump in sales for the three largest cement manufacturers, Cemex, Lafarge and Holcim, whose acquisition debt has just made financial matters even worse. Photo: C.J. Schexnayder / ENR Cemex’s only presence at World of Concrete was a mixer in the Peterbilt booth. With prospects dour for 2009—Cemex expects demand to drop 15% in the U.S. this year—the pressure on the firms’ bottom lines has only increased.
