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Second Niger Bridge Construction Gulps $2.2million, To Take Further $700million

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Published in Finance
Tuesday, 08 September 2015 20:15

According to the Nigeria Sovereign Investment Authority (NSIA), the construction of the Second Niger Bridge has quaffed $2.21million (about N439.78million).

The Managing Director/Chief Executive Officer of the agency, Uche Orji, gave the figure on Thursday, September 3, at a media briefing in Lagos.

According to Orji, the Agency, acting through its wholly owned subsidiary, NSIA Motorways Investment Company (NMIC), is collaborating with the Federal Ministry of Works and Julius Berger Investments (JBI) as joint sponsors on the financing, development and construction of the Project.

He said the bridge which is estimated to gulp $700million by 2012 estimates, is billed for completion in 48months.

Orji noted that the 11.9km length bridge, Uche is structured as a Public Private Partnership (PPP) and would be constructed and operated on a Design, Build, Finance, Operate and Transfer (DBFOT) basis.


Source: Estate Times

Read 2300 times Last modified on Tuesday, 08 September 2015 15:52

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