Site icon Zambia 24 – Zambia's leading Online News website

“Opening New Horizons’

… Muyangwa say the project will expand connectivity through enhanced road infrastructure

By Francis Maingaila

Lusaka, Zambia24 (26-03-2024) – The National Pensions Scheme Authority (NAPSA) has finalized a significant agreement worth $650 million with Macro Oceans Investment Consortium (MOIC) to begin the transformation of the Lusaka-Ndola dual carriageway.

This project, overseen by NAPSA Director General Muyangwa Muyangwa, entails upgrading the 327-kilometer road and rehabilitating the 45-kilometer Luanshya-Fisenge-Masangano route.

Under the agreement, MOIC will manage a 25-year concession period, covering financing, design, construction, and maintenance for both roads.

Representing NAPSA, Vice Board Chairperson Myra Ngoma highlighted the substantial benefits expected from this extensive road network.

In addition to improving connectivity, Ngoma emphasized the upgraded roads’ role in driving economic growth across urban and rural areas along the corridor, facilitating the movement of goods and stimulating economic activities.

Simultaneously, the Workers’ Compensation Fund Control Board (WCFCB) has approved a significant investment in vital road rehabilitation and enhancement projects in Zambia.

Led by Macro-Ocean Investment Consortium (MOIC) and Avic International Project Engineering Company (AVIC), this public-private partnership (PPP) initiative aims to convert approximately 327 kilometers of the T2/T3 road from Lusaka to Ndola into a dual carriageway while revamping 45 kilometers of the Luanshya-Masangano road.

WCFCB Vice Chairperson Laurian Hangala announced the board’s decision to invest $50 million in this road project, aligning with national infrastructure development initiatives and the government’s push for PPP frameworks outlined in the 8th Zambia National Development Plan.

Hangala emphasized the project’s potential to stimulate economic activity, create employment opportunities, enhance connectivity, and prioritize safety, thereby contributing to environmental stewardship and promoting good governance.

Hangala emphasized WCFCB’s strategic investment approach, aiming for competitive financial returns and sustainable growth of the fund through diversified infrastructure projects.

Hamgala envisions the proposed dual carriageway from Lusaka to Ndola as a symbol of progress, unity, and enhanced accessibility, embodying a commitment to economic growth, community empowerment, and opportunity creation.

The project aims to increase opportunities for local farmers, vendors, and businesses, thereby bolstering agriculture, income levels, and overall economic activity.

Furthermore, the creation of construction jobs is expected to not only boost employment prospects but also improve transportation links, driving economic diversification and prosperity.

Enhanced accessibility in the road sector is anticipated to attract tourists, benefiting the tourism industry.

Additionally, priority will be given to environmental preservation and sustainability in construction activities.

This investment signifies a significant advancement in Zambia’s infrastructure landscape, with gratitude extended to all stakeholders involved for their support.

Managing Director of the MOIC-LN Consortium Limited, E. Shangfa, highlighted the secured financing from Senior Lenders (NAPSA, WCFCB, and AIPEC) as a milestone for Zambia’s infrastructure development.

He said the Lusaka-Ndola road, is crucial for domestic and regional trade, promises economic growth and connectivity, with the consortium committed to timely construction and optimal operation over the 25-year concession period.

Shangfa emphasized the success of public-private partnerships, setting a precedent for future initiatives and heralding a new era of infrastructure development in Zambia.

Exit mobile version