Gist: Federal Government awards $1.488bn Lagos-Ibadan railway contract  (Read 837 times)

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The Federal Executive Council, yesterday, approved the construction of the Lagos-Ibadan Standard Gauge Rail Double Track with Double Formation under Addendum No. 2 (2nd segment) of the modernisation of Lagos-Kano railway project.

Minister of Information, Mr Labaran Maku, who addressed State House correspondents after the meeting said the contracts were awarded  in favour of Messrs China Civil Engineering Construction Company Nig Ltd in the sum of $ 1,487,782,196.00 payable at the prevailing exchange rate at the time of payment, inclusive of all taxes with a completion period of 36 months.

Maku who was accompanied by the  Ministers of the  Federal Capital Territory, Bala Mohammed; Trade and Investment, Olusegun Aganga; Transport, Idris Umar;  Power, Barth Nnaji, and Urban and Housing Developmnet, Ama Pepple, said council approved contracts including the implementation of Addendum No. 2 (2nd segment: Lagos-Ibadan  to the main contract for the railway modernisation project (Phase 1; Lagos-Kano) for the Ministry of Transport.

According to him, the council also approved the variation of the scope of the contract for design and construction of Abuja Rail Mass Transit Project (Lots 1&3) from the initial work span of  60.67km to 45.245km (Lots 1A &3).

With the variation, the  contract sum was reduced from $841,645,898.00 to $823,540,545.87 payable at the prevailing exchange rate, at the time of payment inclusive of 5 per cent VAT and 5 per cent variation on prices.

Speaking on the other contracts in the  power sector, Maku said in line with accepted best practice in the operation and maintenance of hydropower the council  approved the supply and installation of parts for the 2 x 140MW Units 411G3 Generators at Shiroro Hydroelectric Plc, in favour of Messrs AsNDRITZ Hydro GmbH, in the sum of N2,075,754.00.

This is in addition to the naira sum of N13,326340.68 to be retained by Shiroro Hydroelectric Plc to cover 1% CISS fees and 2% Port and Handling charges, with a completion period of eight months.

Council also approved the restoration of four Plant units and balance of plant at Omotosho Power Plc in favour of China Machinery and Engineering Corporation in the sum of USD 10,092,771.15 payable at the prevailing exchange rate at the time of payment, plus N78,753,893.30 for 5% VAT with a completion period of 6 months.

Speaking on investment drive in the country, Minister of Trade and Investment, Olusegun Aganga said Nigeria has improved in the FDI attaraction index to 23rd position making it a first quarter country for FDI attractiveness.

In another development, Nigeria is said to have made the final list of Common Wealth Association of Public Admnistration and Management (CAPAM). It is the first time Nigeria is participating in the international innovations award

The Ministry of Health made a summation on their midwives services scheme. The scheme is meant to address one of the goals of the MDGs that has to do with the reduction of maternal and infant mortality. It is a federal government programme by the ministry of health that employs qualified midwives, some of them retired and newly qualified ones.

http://www.vanguardngr.com/2012/07/fg-okays-1-488bn-lagos-ibadan-railway-contract/


 

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