Lagos State Governor, Akinwunmi Ambode has terminated the
N844b contract for the construction of the 4th Mainland bridge, barely a
year he signed a Memorandum of Understanding (MoU) with a consortium of
firms to build the bridge.
Speaking at a
ministerial briefing at Alausa, Ikeja, the Commissioner for Waterfront
Infrastructure Development, Adebowale Akinsanya said the government is
now looking at other investors who have shown interest in the contract.
'Due
to the slow pace of work, the contract was terminated. We are now
looking for many investors, though interest is very high. 'The state
government has started the proposals. We have such investors from South
Korea, Europe, and the United States, among few others. What we are
doing now is vetting the proposals. We do not want to waste any further
time. So works are in top progress on the 4th Mainland Bridge.
The
investors would be named very soon, the state government will enter
into a concession agreement with appropriate investors that deliver the
project, he said.
The MoU for the 36 km bridge
which was signed on the 25th of May, 2016 was to be financed by Africa
Finance Corporation, Access Bank, and other private investors before it
was terminated.
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