According to Alejandro Sinibaldi, Guatemalan Minister of Communications, this money is in addition to $40 million which the Central American Bank for Economic Integration (BCIE) has already granted to the ministry.

"This year we hope to run about $100 million to advance the construction of the road in several phases," said Sinibaldi.

"The expansion to four lanes of the stretch between Escuintla and Tecum Uman will cost $410 million," reported Prensalibre.com.

Source: prensalibre.com

More on this topic

Guatemala: $280 million for Road Works

May 2014

Congress has approved an international loan to rehabilitate and extend 108 kms of the route from Escuintla to Ciudad Pedro Alvarado.

The funds will be used to finance the implementation of the rehabilitation of the two existing lanes and the construction of two more lanes on the CA-2 East Highway.

Guatemala Seeks Funding for Roadworks

December 2013

The Government has announced that will negotiate international loans for $920 million for road construction.

The Ministry of Communications, Infrastructure and Housing (CIV) said it would be looking to obtain credit with international banks in order to expand three stretches of highway which go towards border crossings. Alejandro Sinibaldi, head of the CIV, confirmed that the three loans could materialize next year.

$380 million Road Tender Awarded

December 2012

The Brazilian company Norberto Odebrecht Construction, Inc. has been awarded the tender for the expansion to four lanes of the "CA-2 Occidente" road in Guatemala.

The start of construction is scheduled for February 2013 and includes widening 150 kilometers of road to four lanes and construction of 76 bridges.

$399 million in Loans for Road

October 2012

Guatemala's Congress has approved a loan of $119 million from the CABEI and another from BNDES of Brazil for $280 million, for the expansion to four lanes of the highway to the Pacific.

The Ministry of Communications will be the executor of the road project to be financed with the two loans.