The Lagos State Government on Wednesday signed a memorandum of understanding with a consortium of investors to fund and construct the 4th Mainland Bridge.
The consortium, which agreed to fund and construct the bridge at N844 billion, comprises Visible Asset Limited, Julius Berger Nigeria Plc, Hi-tech Construction Limited, J.P. Morgan, Eldorado Nigeria Limited, Nigerian Westminster Dredging and Marine, Africa Finance Corporation (AFC) and Access Bank.
The bridge will cover a distance of 38 kilometres and is said to be the longest bridge and expressway in the country.
The bridge will be constructed under the Build, Own and Transfer (BOT) concession of 40 years under the Lagos State Government’s Public Private Partnership (PPP) Initiative. According to Ambode, the bridge would be made up of 8 interchanges to facilitate effective interconnectivity between different parts of the State.
“This structure will be a Four-lane dual carriageway with each comprising 3 lanes and 2 metres hard shoulder on each side. The bridge will be constructed to have a generous median to allow for both future carriageway expansion and light rail facility,” Ambode said.