The Lagos State Government has terminated its contract with investors for the proposed Fourth Mainland Bridge project worth N844 billion.
The state is considering proposals from foreign investors from the U.S and Britain, among others, in order to start the project afresh.
Lagos Commissioner for Waterfront and Infrastructure Development Adebowale Akinsanya, at Alausa, Ikeja, explained that the government dumped the former investors to shop for new financiers due to delay in the commencement of the project.
“We have new investors from South Korea, Europe, and America. What we are doing now is vetting the proposals. We don’t want to waste time anymore,” he said.
The Permanent Secretary in the Ministry of Works and Infrastructure, Temidayo Erinle, at the briefing, also said the federal government hasn’t approved of the Airport Road project.
“However, we assure residents that as soon as the approval is given, engineers will move to site. We are still talking to the FG to get things resolved on the Airport Road, as well as Apapa Road,” Erinle said.
According to him, the proposed 188 road projects would soon commence. The state government has received over 1,000 proposals from contractors.
Erinle said the Lagos State Public Works Corporation worked on 807 roads in the state in the last one year. It has embarked on over 275 more.
Different construction projects have been going on in the state as the government intensifies effort to up the Lagos metropolis to a mega city.
Business6 days ago
Latest6 days ago
Latest4 days ago
Latest6 days ago
Business6 days ago
Business3 days ago
Latest4 days ago
Business1 week ago