- Tanzania Gives Go-Ahead to Massive Sh80.85 Billion Mbamba Bay Port Construction Project
- KeNHA Unveils Strategic Sh394 Billion Plan to Construct Major Highways in Kenya
- Ruto’s Multi-Million Plan to Host the 2027 Africa Cup of Nations (AFCON) Tournament in Kenya
- Tanzania's Modern Industrial Park Project on Course with 3.5 Trillion Investment
- African Development Bank Greenlights $696.41 Million for Phase 2 of Tanzania-Burundi-DRC SGR
- Biggest construction trade exhibition announced in Nairobi at KICC
- President Ruto's Vision of Affordable Housing Projects Taking Shape in Kenya
- Ethiopia Receives $720 Million in Funding for Road Construction Project
- $3.24 Billion to be Invested in Tanzania SGR Construction by Spain
- Ksh700 Billion to be Invested to Complete Pending Kenyan Road Projects
Cargo airport in Nigeria to be constructed
A US$100.51m cargo airport in Nigeria will be constructed in Nasarawa State, governor Tanko Al-makura, has said. The governor was speaking during the signing of the financial contract agreement between the state government and Tongyi Group Engineering, a Chinese firm tasked with the construction with their representative HYPAD .
The agreement stated that the Chinese firm will be responsible for the project’s finance. However, a Memorandum of Understanding (MoU) had been put on paper between the State government and the Chinese company to have a befitting cargo airport in Lafia.
The Engineering Procurement and Construction (EPC) agreement considered to be the last stage of the project’s agreements has also been concluded ahead of the flag-off of the project dated for December 2015.
On completion, the project is expected to impact the state in great way, among them creating revenue generation that will boost the state economy status as well as creating job opportunities. The airport will also open doors for potential investors who might be interested in taking a look at the state’s endowment for their businesses.
According to Governor Al-makura, Tongyi Group along with its financial consultants will provide 75% of the project’s total coast while the remaining 25% will be catered for by the State. however, the state obligation towards the project’s finance will be achieved through the Federal Government’s intervention on infrastructure, given that repayment will done over a period of 6 years.
Algreen Zhen, Tongyi Group Chairman, applauded construction of cargo airport in Nigeria that when completed, it will add value to the residents of Nasarawa State and its neighbouring States. He further said that, his company is committed to deliver the project in good time as expected.
Source : http://constructionreviewonline.com
Posted on : 24 Nov,2015
Buildmart is Africa's leading directory and market news website for the building and construction industry | Kenya | Tanzania | Rwanda | Ethiopia
Exhibitions In Africa
- 25th Buildexpo Kenya 2024
KICC, Nairobi, kenya
05 - 07, June 2024 - 09th Afriwood Kenya 2024
KICC, Nairobi, kenya
05 - 07, June 2024 - 09th LightExpo Kenya 2024
KICC, Nairobi, kenya
05 - 07, June 2024 - 08th Minexpo Africa 2024
KICC, Nairobi, Kenya
05 - 07, June 2024 - 25th Buildexpo Tanzania 2024
Diamond Jubilee Expo Center, Dar-es-Salaam, Tanzania
12 - 14, Sep 2024 - 08th Afriwood Tanzania 2024
Diamond Jubilee Expo Center, Dar-es-Salaam, Tanzania
12 - 14, Sep 2024 - 08th LightExpo Tanzania 2024
Diamond Jubilee Expo Center, Dar-es-Salaam, Tanzania
12 - 14, Sep 2024 - 08th Minexpo Tanzania 2024
Diamond Jubilee Expo Center, Dar-es-Salaam, Tanzania
12 - 14, Sep 2024