Handlers of the multibillion dollars Eko Atlantic City Project on Victoria Island, Lagos, have reached out to the city of London for an enduring partnership on the project.
And to demonstrate its commitment to deliver the project as at when due, South Energyx Nigeria Limited invited the Mayor of the City of London, Alderman Michael Bear, to the project site last week during which it showcased all the aspects of the project.
The Mayor did not come alone, as he led a very important delegation of British industrialists and financiers to the development site of the project in Lagos.
South Energyx, a subsidiary of the Chagoury Group, spearheads the planning and construction of the 21st century city combining space for residential, commercial, financial and tourist development.
Briefing the delegation, the Managing Director of South Energyx, Mr. David Frame, said the project was aimed at changing the face of the Lagos shoreline by finding a permanent solution to the incessant ocean surge that is threatening Victoria Island by reclaiming and protecting its infrastructure.
According to him, the project is supported by some Nigerian banks with some international investors.
Before taking the Lord Mayor and his entourage to the project site where more than seven kilometers of the ocean have been claimed by the company, Frame told them that “the development and construction of Eko Atlantic has taken another significant stride forward as civil engineers and construction teams start to work on the essential road network.
Land reclamation for Eko Atlantic was marked by a milestone event in March, this year. To date, 2.7 million square meters of land has been reclaimed from the ocean for the project. It is protected by a sea revetment known as The Great Wall of Lagos that is now two and half kilometers long.
The completion date for land reclamation of the project is 2015 and includes a sea wall that will spread about eight and half kilometers long.
According to Frame, Eko Atlantic, inaugurated in 2008, will impact positively on the government’s efforts to create jobs and alleviate poverty because the development is creating employment opportunities as it both consolidates and expands.
The city, on completion, will be home to 250,000 people and the work place of another 150,000. It will boast of well-designed waterfront areas, tree-lined streets, efficient transport systems and mixed-use plots that combine residential areas with leisure facilities, offices and shops.
Frame further told the visitors that the “the progress we have made further underlines our commitment to the development of Lagos State and the Nigerian economy on one hand and the growth of Africa on the other. We are, indeed, very delighted to be part of the ongoing effort that is helping to open up Africa to more global investors.”
Bear and his entourage, who asked some salient questions about the project, told Frame and other officials of the firm that “the City of London believes Africa’s growth potential over the next 30 years could outstrip that of some of today’s emerging economies, such as India and Brazil.”
He expressed happiness at the fastness with which the project is being carried out, promising to market it to investors in UK.