Memorandum of Understanding, MoU, to signal the commencement of the construction of the 38km 4th Mainland Bridge, expected to gulp about N844 billion has been signed by the Lagos State Government and a consortium of private investors.
The bridge is being constructed under the Build, Own and Transfer, BOT, concession of 40 years under a Public Private Partnership, PPP, initiative of the State Government.
The consortiums to handle different stages of the mega project are Visible Asset Limited, Access Bank, Julius Berger Nigeria Plc, Hi-tech Construction Limited, J.P. Morgan, Eldorado Nigeria Limited, Nigerian Westminster Dredging and Marine and Africa Finance Corporation, AFC.
The Bridge, among others would accommodate cyclists and pedestrians and feature two service areas as well as additional pedestrian crossing.
The Bridge would also accommodate three Toll Plazas which are still being tested from financial point of view and it would serve as a major boost for the actualisation of the Lekki Master Plan.
Source:: Nigerian Pilot