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LivingTrust Mortgage Bank grows profit after tax by 261% in Q1 2021

The Lagos State Government has said that the preferred bidder for the fourth mainland bridge will be known by December 2021.

This is as the government is at the conclusion stage in the bidding process for the award of contract for the bridge which is conceived in the Lagos State Master Plan.

This disclosure was made by the Special Adviser to the Lagos State Government on Works and Infrastructure, Engr. Aramide Adeyoye, on Tuesday, April 27, 2021, during the ongoing inter-ministerial press briefing organised to mark Sanwo-Olu’s second year anniversary in office.

Mrs Adeyoye said the Government was in the second phase of the bidding process, where it had issued a Request for Proposal (RFP) to shortlist consortia and establish their financial proposal for the project.

She revealed that by December 2021, the State would have moved to appoint its preferred bidders, complete financial closure on the project and sign a concession agreement with a consortium, after which the construction will start.

What the Special Adviser to the Governor is saying

Adeyoye in her statement said, “The journey of the 4th Mainland Bridge, which started years ago, became a top priority of the Sanwo–Olu administration as part of efforts aimed at decongesting the metropolis and ease traffic congestions along existing highways. This administration, in its resolve to ensure quick delivery of the project, has enhanced the role of Private Sector Partnerships in the delivery process.

The alignment for the Fourth Mainland bridge is clear and we have six consortiums at the moment still in the bid for the project. We have completed our bio-metric survey on routes. We have more than 8,000 structures marked on the alignment and all environmental impact assessment has been completed to ensure the project takes off immediately the bidding process is complete. By December, we should come to a financial close on who is the preferred bidder.”

What you should know

It can be recalled that the Lagos State Government had in August 2020, shortlisted 6 companies for the design, development, construction, operation, and maintenance of the Fourth Mainland Bridge.

This was followed up with the government’s issuance of a Request for Qualification (RFQ) in February this year. The 6 companies were said to have completed the technical and financial capacity requirements.

The Fourth Mainland Bridge is a 37.4km freeway subdivided into three sections namely Island Section, Lagoon Section and Mainland Section. It will commence from Abraham Adesanya Roundabout in Lekki through Ajah and Langbasa areas, crossing the Ado Badore Road before arriving at the Lagoon shoreline.

Read More: LivingTrust Mortgage Bank grows profit after tax by 261% in Q1 2021

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