The union of transporters has warned that if the increase in the fuel tax is approved, "the cost of transporting cargo to Guatemala will rise by $12.75."
The Road Maintenance Fund is preparing a tender to build an over pass at the UN roundabout in San Salvador.
It is envisaged that on April 14 offers will be received from the institutions interested in carrying out the work in the arena of the United Nations, at the southern end of Jerusalen Avenue.
Preparations are being made for a tender to be launched in September for the construction of a tunnel under the Masferrer roundabout in San Salvador, in order to begin works at the end of the year.
The Road Maintenance Fund expects to announce the tender in September in order to begin construction in December.
An announcement has been made that in August the bidding rules will be released for the construction of a road tunnel in Colonia Escalon, San Salvador.
The Road Maintenance Fund (Fovial) reported that the tunnel under the the Masferrer roundabout will be the first of several constructions of over and underpasses that will be developed between now and 2015.
In the first six months of 2013 the Executive of El Salvador paid $11 million to various consultancies to perform tasks which regular staff can't do or don't know how to do.
According to an article in Elmundo.com.sv "From January 1 to June 28, the government set aside the amount of $11.1 million for the hiring of a number of consultancies ranging from construction supervision, administrative support and creating 'general guidelines' for policies, 'negotiating' with transporters from the Transit System in the Metropolitan Area of San Salvador (Sitramss) among other things."
The Road Maintenance Fund will be selling bonds worth $50 million on the stock market in order to finance the construction of works to facilitate traffic in the metropolitan area of San Salvador.
The Road Maintenance Fund (FOVIAL) has chosen the securitization mechanism to sell securities to investors from different backgrounds, under an agreement that will be returned in the medium term with an additional gain.
In May, the Road Maintenance Fund of El Salvador will issue $50 million in bonds to finance an overpass and maintain several Salvadoran roads.
"The executive director of the Road Maintenance Fund (Fovial), Eliud Ulises Ayala, confirmed yesterday that in May the first $50 million will be issued out of a total of $160 million that the Legislature has approved to raise money to build new roads and maintain the existing network", reported Elsalvador.com.
The Road Maintenance Fund of El Salvador may issue securities secured by future cash flows from the contributions to road maintenance.
An article in Diariocolatino.com reports that the Legislature has approved the issuance of securities by the Road Maintenance Fund (Fovial), with the guarantee of future cash flows from the contributions to road maintenance.
The Road Maintenance Fund of El Salvador will get $25 million for the payment of maintenance contracts on the Longitudinal del Norte highway.
An article in Laprensagrafica.com reports that, "The Millennium Challenge Corporation (MCC) has given the green light to the disbursement of $25 million which had been frozen due to the limited progress that had been made in providing financial stability for the Road Maintenance Fund (FOVIAL) . "
The Ministry of Public Works is proposing installing a camera system funded by a percentage of the fines imposed.
Gerson Martinez, head of the Ministry of Public Works (MOP), "held talks with foreign investors on the subject and reported that these systems could be put in place without the State having to spend anything on them. The investor who installs the equipment could be assigned 'a percentage of earnings generated, and in this way it could finance itself without taxing the population’, said Martinez."
The Road Maintenance Fund Authority has announced the start of road projects for 2012, which include routine maintenance works, and construction of roads and bridges.
A press release from the Ministry of Public Works reads:
The Road Maintenance Fund Authority (FOVIAL) today announced the start of road projects for 2012, which include routine maintenance works, and construction of roads and bridges, which will bring great benefits to the population and will generate thousands of jobs.
In August 2011 the construction sector registered growth of 17% compared to the same month in 2010.
Luis Aquino, Managing Director of Economics Studies and Statistics at BCR, said that the dynamism the sector is reporting comes mainly from public works projects such as the Road Maintenance Fund (Fovial) and ‘Casa Para Todos’ (Houses For Everyone).
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