Preferred Bidder to toll Lagos 4th Mainland Bridge for 40 years
• Project To Be Completed In 54 Months • 800 Structures To Be Demolished
Lagos State Government has revealed that the consortium, Messrs CCECC-CRCCIG, picked to construct the 4th Mainland Bridge would manage the bridge tolling for about 40 years to recoup its investment.
The Special Adviser on Works, Mrs. Aramide Adeyoye, who disclosed this, yesterday, stated that the project’s sod turning would be done in the first quarter of 2023. She added that it is estimated that the bridge would be completed within 48 to 54 months.
Adeyoye, who further stated that about 800 structures would be demolished to give way for the construction of the bridge, said that the state government has made adequate arrangement for compensation and relocations of the affected residents.
According to her, the project is estimated to cost about $2.5b and the consortium would be financing it. The announcement of a preferred is in fulfillment of the earlier promise by Governor Babajide Sanwo-Olu that a preferred bidder would be named before the end of 2022.
Adeyoye appealed to Lagosians to have faith and trust in the Babajide Sanwo-Olu’s led administration, as the state government is transparent, poised as well as gotten investors’ confidence to adequately compensate for the 800 structures that would be demolished.
Also speaking, Special Adviser to the Governor on Public Private Partnerships, Ope George, said the project starting from Abraham Adesanya, Ajah towards the Lagos-Ibadan Expressway and Lagos-Abuja highway would be handled by the preferred, CCECC-CRCCIG.
Providing some background to the selection of the preferred bidder, George said: “I wish to state here that, the first stage of the selection process, that is Request for Expression Of Interest (REOI) was published in six widely read dailies on November 27, 2019. The submission deadline was then fixed for December 18 2019.”
According to George, from this publication, 52 applicants responded to the REOI and when evaluated, the relevant stakeholders and consultant between December 19 and 20, 32 applicants successfully progressed to the next stage.
In his remarks, the Commissioner for Information and Strategy, Gbenga Omotoso, stated that the government placed importance on the proposed 37 kilometres road and bridge project with expected social and economic benefits for residents and businesses.
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