Second Niger Bridge to be ready by 2022, says Julius Berger
Julius Berger Nigeria Plc has said the tremendous progress made in the construction of the second Niger Bridge project in such a short time, reflects the company’s continued commitment to timely completion of the project.
The Bridge, which is expected to be completed by the Year 2022, according to the Managing Director of the company, Dr Lars Richter, is currently undergoing an extensive engineering construction work since it was awarded the main contract for the works.
Reviewing its performance during the firm’s Investors Relations Forum, in Lagos, recently, Richter explained that the cold recycling methodology, Julius Berger introduced in the ongoing Abuja/Kaduna/Zaria/Kano Road, points to an efficient future for road construction, rehabilitation and maintenance in Nigeria.
He explained that the methodology provides for the milled-off pavement to be recycled and improved for reuse in paving the base layer of the road.
Speaking on the Lagos-Shagamu Expressway, which witnessed some delays and even work stoppage in the past, due to funding challenges, Richter said since the resumption of work, a steady pace of progress is now the reality.
He said: “Considering that the expressway is now financed via the Presidential Infrastructure Development Fund, we presume that we will be able to achieve an uninterrupted pace of work with the new funding structure.”
On the ongoing Bodo/Bonny Road, Richter said despite the project’s strategic socio-economic importance and acknowledged challenges, “as the first major contractor to enter Bonny Island in over 20 years, Julius Berger has the experience and the technical knowhow to deliver the needed solution, and we are doing so.”
Furthermore, he noted that 2018 was a very successful and pivotal year for the company, as it was filled with many positive developments and achievements.
He said the group’s revenue in the financial year 2018 increased by 37 per cent from N141.890 billion in 2017 to N194.617 billion, while profit before tax rose 173 per cent from N3.739 billion in 2017 to N10.197 billion. Post-tax profit also rose 47 per cent to N6.101 billion from N2.517 billion.
On quality and standards, Richter said Julius Berger, in 2018 also achieved the recertification of its Quality Management System, to meet the updated standards of ISO 9001, “Proving that despite much change, and in the face of external pressures, Julius Berger’s commitment to quality and process has not wavered.”He pointed out that the company effectively optimised its operational structure in 2018, to ensure the best utilisation of resources for projects’ needs.
“A seamless succession of the Executive Management was implemented and its structure was expanded to include a Directorate of Corporate Development. Strategically, the decision enabled a stronger focus on growth potentials, and provided an even more robust support for the identification and exploration of diversification opportunities and efforts.
“The result is that Julius Berger revved back from redundancy to renaissance, from the brink of sale of its equipment to investment in new machinery and technology, from firing to hiring again, with the target, to deliver on its new and increasing projects schedules,” he added.