Osun
State government has signed a N17.8 billion contract agreement with
SAMMYA Construction Company Limited for the dualisation of the 45
kilometers Osogbo-Ikirun- Kwara State Boundary Road.
The dualisation had been segmented into three phases of
Osogbo-Dagbolu (International Market) to Alamisi Market in Ikirun (9.52
kilometers); Osogbo (Old-garage) to Ikirun junction road (20.5
kilometers) and Ikirun-IlaOdo- Kwara State Boundary road (16.5
kilometers).
In signing the agreement on Thursday, the Special Adviser to the
Governor on Works and Transport, Engineer Oladepo Amuda, said that, in
line with the agreement, the project would be completed within 24 months
of which the work had already commenced. He said that the project was
not the usual direct contract award, but a contractor-financing
transaction, which came out of the confidence of the contractor in the
administration of Governor Rauf Aregbesola, saying that the money for
the contract would be repaid across 36 months after the completion of
the project.
A development financial institution, The Infrastructure Bank Plc
(TIB) which is the Transaction Advisor, Fund Arranger and Financier of
the project, is working in conjunction with the construction company and
other stakeholders to fund the project.
He further said: “The road will link the market hub at Dagbolu with a
spur from the major road to the market and from there to Alamisi Market
in Ikirun.
The major one will go from Old Garage and directly to Ikirun and to the Kwara State boundary.
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