FINANCING AGREEMENTS FOR CONSTRUCTION OF LUSAKA/NDOLA DUAL CARRIAGE WAY SIGNED

The National Pensions Scheme Authority-NAPSA-, the Workers Compensation Control Fund Board and Macro Ocean Investment Consortium Limited have signed the common terms and financing agreements for the upgrading of the Lusaka/Ndola road to a dual carriage way.
The project to be undertaken by macro-ocean investment consortium will cost US$650 million and will involve the upgrading of approximately 327 kilometers of T2/t3 road from Lusaka-Ndola road to a dual carriageway and rehabilitation of 45 kilometers of the Luanshya-Masangano road for a period of 36 months.
Speaking during the signing ceremony in Lusaka today, NAPSA Board of Trustees Chairperson Mira Ngoma said the road which is the first dual carriageway stretching over 300 kilometers in the history of Zambia is a lifeline that will connect the south of the country to the Copperbelt and the northern corridor, fostering unity, facilitating commerce, and promoting accessibility.
Ms. Ngoma said the road during it’s construction will create 4,000 direct jobs and over 24,000 indirect jobs for suppliers of goods and services.
She added that the road is not just an infrastructure development, but a comprehensive socio-economic development initiative that will transform lives and contribute to the growth of the country.
And Macro-Ocean Investment Consortium representative e Shangta is confident that the construction of the Lusaka-Ndola dual carriageway will progress smoothly and will be completed within the 3 years timeframe.
He said the company is committed to operating and maintaining the road at an optimal level throughout the 25 year concession period, maximizing the project’s positive impact on the entire country

News Source: Phoenix FM

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