Ambode, Consortiums Sign MOU On N844 Billion 4th Mainland BridgeFeatured, Lagos, Latest News, News Wednesday, May 25th, 2016
By Ayo Balogun
LAGOS, NIGERIA (AFRICAN EXAMINER) – Lagos State Governor, Akinwunmi Ambode on Wednesday signed a Memorandum of Understanding, MOU, with consortiums to build the 4th Mainland Bridge at a cost of N844 billion with three tow plazas.
The bridge is being constructed under the Build, Own and Transfer (BOT), concession of 40 years under the Public Private Partnership (PPP) programme of the Lagos State Government.
The consortiums to handle different stages of the mega project are Visible Asset Limited, Julius Berger Nigeria Plc, Hi-tech Construction Limited, J.P. Morgan, Eldorado Nigeria Limited, Nigerian Westminster Dredging and Marine, Africa Finance Corporation, AFC and Access Bank.
Speaking at the event, Ambode said the State was recording another major milestone in its almost 50 years of existence with the signing of the MOU to build the 38km 4th Mainland Bridge that would become the longest bridge and expressway anywhere when completed.
“The significance of this bridge will be fully appreciated if we can imagine Lagos of today without the 3rd Mainland Bridge. Almost 30 years after the delivery of the 3rd Mainland Bridge, the State has experienced phenomenal growth to become a megalopolis –a city-State with a population of over 21 million people.
“The increase in the State’s population and expanded commercial activity has led to frequent traffic congestion. This has made it imperative for us to have a 4th Mainland Bridge that will serve as an alternative route to the Eastern axis and decongest traffic in the State. More importantly, this bridge will provide the required transportation complement to the rapidly growing industrial activities on the Eti-Osa – Lekki – Epe corridor of the State.
“The proposed alignment passes through Lekki, Langbasa and Baiyeiku towns along the shoreline of the Lagos Lagoon estuaries, further running through Igbogbo River Basin and crossing the Lagos Lagoon estuaries to Itamaga Area in Ikorodu. It then crosses the Itoikin road and the Ikorodu-Sagamu Road to connect Isawo inward Lagos-Ibadan Expressway at Ojodu Berger axis. The Bridge would be made up of 8 interchanges to facilitate effective interconnectivity between different parts of the State,” he explained” Ambode stated.
The Governor added that the structure would be a four-lane dual carriageway with each comprising three lanes and two metres hard shoulder on each side, while the bridge would be constructed to have a generous median to allow for both future carriageway expansion and light rail facility.
“There is no gainsaying the fact that huge benefits will be derived from this project but most importantly, make life more comfortable for Lagosians. We have started the process with the signing of this MOU which is an expression of the commitment of major stakeholders, including the government and the consortium of consultants and investors to the delivery of the project within the scheduled time frame,” he added.
Giving details of the project, Ger Horgan, Advance Engineering Consultant said the initial cost of the project operational from 2016 to 2021 was N790 billion, adding that the follow up 10-year programme for “structural pavement” repair of the project between 2018 and 2033 is put at N5 billion.
He said to add overlay plus line and refurbish before hand back between 2055 and 2061 would cost N10 billion while five years refresh programme of work along the route between 2030 and 2061 is put at N19 billion, saying that annual operating cost between 2021 to 2061 is N20 billion.
Cumulatively, he said the entire project cost is put at N844 billion, while the bridge would have three tow plazas for the collection of tows.
Managing Director, Visible Asset, the pioneer of the project, Mr. Idowu Iluyomade commended the government for given the consortiums the opportunity to handle the project, saying that with all things in place, the project would be completed in three years time.
According to him, the 4th Mainland Bridge project was achievable, while describing the infrastructure as critical with high social returns, capacity to create job and reduce traffic gridlock in the Lagos metropolis.
He said at the end of the 40 years concession, the project would be handed over to the Lagos State Government, adding that lots of partners were teaming up with his company to execute the project.
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