NAPSA, Macro Ocean sign $650m deal for Lusaka-Ndola dual carriageway

By Mark Ziligone

The National Pensions Scheme Authority- NAPSA has signed a 650 million United States dollar common terms and financing agreement with Macro Oceans Investment Consortium -MOIC- to start the upgrading of the Lusaka-Ndola road into a dual carriageway.

Speaking during the signing ceremony, NAPSA Director General MUYANGWA MUYANGWA said the upgrading of the 327 Kilometers road will also include rehabilitation of the 45 kilometers Luanshya-Fisenge-Masangano road.

Mr. MUYANGWA explained that under the agreement Macro Oceans Investment Consortium will have a 25-year concession period to finance, design, construct, and maintain the two roads.

NAPSA Vice Board Chairperson MYRA NGOMA said the construction of the 327 kilometers road is expected to come with far-reaching benefits for both urban and rural communities along the corridor.

Ms. NGOMA added that the road will also improve transportation of goods and stimulate economic activities.

Meanwhile, Workers Compensation Control  Board Representative LAURIAN HAANGALA said the board is confident that investing in the upgrading of the road will benefit Zambia for many years.

Macro Oceans Investment Consortium -LN Consortium Limited representative E  SHANGFA said he is confident that the construction of the road will be complete in 3 years.

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