Tuesday 21st May, 2024.
President Hakainde Hichilema has arrived in Kapiri Mposhi of Central Province.
The head of state is in Kapiri Mposhi to grace the groundbreaking ceremony for the Construction of the Lusaka- Ndola dual carriageway.
The long awaited road Construction under a Public Private Partnership arrangement will be carried out by Macro Ocean Consortium at a cost of $650 Million.
The funds have been locally sourced through the National Pensions Scheme Authority (NAPSA) and Workers Compensation Control Fund Board.
The road to be constructed within a period of 3 years will see a reduced return rate between Ndola and Lusaka thus reduce the cost of doing business between the two Commercial hubs of the country.
With a 23 year Concession period, the Concessionaire Macro Ocean will ensure that the road is built and maintained and manage the three modern Toll-Gates.
The two funders , NAPSA and WCCFB will recoup its money from the toll fees ensuring that much of the money generated from the road use remains in the country for the growth and sustainability of the pensions fund sector which will in turn fund other public sector infrastructure.
The Lusaka – Ndola dual carriageway becomes the second major public infrastructure under the PPP model of funding following the successful construction of the Chingola – Chililabombwe – Kasumbalesa road which was funded by the WCCFB and commissioned in April by President Hakainde Hichilema.
PPP model of funding is the way to go unlike borrowing huge sums of money from Multilateral lending institutions thus placing a huge burden and cost on the treasury.
(C) THE FALCON
