Oyo set to construct 38-km light rail
To ease traffic congestion in Ibadan, Oyo State government has signed an agreement with a construction company, China Civil Engineering Construction Company (CCECC), to construct a light rail system in the capital city.
The 38 kilometre rail will stretch from the Toll-Gate/Sanyo axis of the State to Queen Elizabeth Way (Dandaru, Mokola) before terminating at Ojoo axis of Ibadan.
The project, which is to be executed on a Public Private Partnership agreement between the Oyo State government and the construction giant, will see the company providing 85 percent of the required sum while the state government will provide 15 percent as its own counterpart funding of the project.
The project has a-12 month duration for completion. The duration, according to the agreement. begins from the day the company was able to secure the loan facility to execute the project.
During the signing of Memoranda of Undersatanding (MoU) at the Executive Council Chamber of the Government Lodge, Agodi, Ibadan, the Commissioner for Works and Transport, Mr. Wasiu Dauda, said: “The state government is embarking on the project to ease traffic.
Executive Director CCECC, Jack Lyao, said the company was very eager to hand over a very profitable project for Oyo Sate.He said the company would do all within its ability to ensure the project is completed within the approved 12 months from the day the loan is approved.
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