Group 5, others partner Bi-Courtney on Lagos-Ibadan expressway

The Lagos-Ibadanexpressway reconstruction project got a breath of fresh air on Thursday with the arrival of a leading multi-national construction company known as Group 5 and other partners.The Group 5 team was received by the Minister of Works, Mike Onolememen, at his office in Abuja.Group 5 is a South African multidisciplinary construction group with an established and growing international client base engaged in resources, energy and infrastructure delivery.The Lagos-Ibadan expressway project, which was granted to Bi-Courtney Highway Services Ltd., under a concession agreement in 2009, would now be jointly handled with Group Five and financed by Rand Bank.Other partners include Rand Merchant Bank, the second largest financial institution in South Africa; Vela VKE, supporting engineers and consultants; Project Management International (PMI), experienced South Africa- based construction experts, and Yola Consultants.While receiving the team led by Bi-Courtney's chairman, Dr Wale Babalakin, in his Abuja office, the minister said: 'It is in the interest of every Nigerian for this concession to succeed. It's a project that is very important to us in the country, considering the busy nature of the road which records about 3,000 vehicles per hour. It's the foremost dual carriageway in the country. It is, therefore, important for us to start work on time.'We are convinced that you have the ability to realise the dream. We know one of the partners in the consortium very well, because we've been working together for long.'Responding, Babalakin assured that the road would be delivered on schedule, stressing that work would commence as soon as the rainy season ends.He added that the consortium would complete the project in three years.He said: 'Group 5's knowledge of toll road in Africa is legendary. It comes in with very cognate and current experience for the actualisation of the project.'The latest move, according to the concessionaire, would ensure that Nigerians get the best in quality and complement the zeal of the minister for quick delivery of the project.
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