UK Investors pledge support for Atlantic City Project

UK Investors pledge support for Atlantic City Project

With successful completion of the first phase of land reclamation exercise at the ambitious Eko Atlantic City project, the project promoters have continued to woe investors, the latest visitors are a team of British based financial and professional service experts led by the Mayor of the City of London, Alderman Michael Bear.The Mayor accompanied by scores of officials from British High Commission in Lagos, to the Victoria Island’s Office of the Eko Atlantic City project expressed optimism that investors from London and other western countries would be willing to invest on this novel project.

As head of the City of London Corporation, which provides business and local government services to the city, the Lord Mayor of London’s principal role, according to officials from the High Commission, is to represent UK-based financial and professional services in different countries and project their interest.

Responding to the question from Bear and his entourage, the Managing Director, South Energyx Nigeria Limited, Mr. David Frame, revealed plans to construct a 1000 mega watts power plan within the next three years, while water supply would be through the installation of modern boreholes. In addition, there is going to be a plant for solid waste and sewage treatments, comprehensive security and traffic arrangements, amongst others.

“While we had done thorough studies on how to make the city one of the best in the African continent, we have brought together competent hands that would deliver the kind of infrastructure that required”. Said Frame, who said 20 percent of the 1500 plots planned for the city have received subscription.

He acknowledged that the development and construction of Eko Atlantic City has taken another significant stride forwards as civil engineers and construction teams have started working on the essential road network.

The latest move, according to Frame followed the successful completion of the first phase of land reclamation exercise that he said marked by a “millstone event of March, 2011, that was witnessed by the Lagos Governor, Mr. Babtunde Raji Fashola’.

As at last week, 2.7million square kilometers of land has been reclaimed from the ocean, and it is being protected by the “Great Wall of Lagos” that is now two and a half kilometers long, undertaking by a Belgium based contractor, Messrs Haskoning Engineering Consulting Limited.

“The completion date for the land reclamation date for the land reclamation phase of the project is expected in 2015, including the sea wall that would eventually to stretch eight and a half kilometers long”, said the firm’s managing director.

He added that the progress made so far had further underlines his firm’s commitment to the development of Lagos State and the Nigerian economy on one hand, and the growth of the entire African continent.

The Guardian
By Tunde Alao, The Guardian