AfriPulse
The federal government and the management of Deutsche Bank have commenced talks towards funding the replacement of the Carter Bridge and the rehabilitation of the 3rd Mainland Bridge in Lagos.
The minister of Works, Sen. Engr. Nweze David Umahi on Tuesday received the officials of Deutsche Bank comprising the managing director, global co-head of Structured Trade and Export Finance, Moritz Dornemann and the bank’s chief country representative Nigeria, Andreas Voss in his office in Abuja.
Special adviser on media to the minister, Barr. Orji Uchenna Orji, stated on Wednesday, that the Deutsche representatives approached the minister to indicate interest in the funding of the replacement of Carter Bridge, Lagos and the rehabilitation of 3rd Mainland Bridge, Lagos.
The officials commended President Bola Ahmed Tinubu for his commitment to developing large-scale, high-quality road infrastructure across the nation, which they noted is critical to achieving sustainable economic growth and national prosperity.
They also commended Hitech Construction Nig Ltd for the quality of work on the Lagos-Calabar Coastal Highway project.
They further assured that with the success recorded on the project, the Deutsche Bank was confident in the prospects of the Renewed Hope Agenda on the road network development and would be interested in further funding of the Lagos-Calabar Coastal Highway project.
They commended the Federal Ministry of Works for its effectiveness and efficiency in delivering the project and other ongoing legacy projects across the nation, and expressed their willingness to fund successful bidders of the project.
In his response, the Minister commended the team for their commitment to the funding of the Lagos-Calabar Coastal Highway project, which he said was oversubscribed by over 100 million Dollars.
He thanked them for their interest in the evaluation of the cost of the project which they said was even undervalued.
He stated that Carter Bridge was so severely damaged that it needed to be replaced and noted that the bridge was undergoing remedial works to sustain its integrity pending the replacement. He further stated that the underwater elements of 3rd Mainland Bridge have severe defects, noting that although the bridge would not be replaced, there would be a comprehensive repair of the underwater elements to retain its sustainability for another 50 years.
He assured that the two projects were undergoing a very unbiased procurement process, and they would be carried along as soon as successful bidders emerge.
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