BGD opens bids for Sherreti Cheche District

The opening of bids for comprehensive development of Sherreti Cheche A district involved four qualified bidders selected from six.All promised execution period of 48 months and validity period of 12 weeks.At the end of the exercise, bidders expressed satisfaction saying the bidding process was transparent.The cost engineer who opened bids, Mr Aderemi Muriana said bidders […]

The opening of bids for comprehensive development of Sherreti Cheche A district involved four qualified bidders selected from six.
All promised execution period of 48 months and validity period of 12 weeks.
At the end of the exercise, bidders expressed satisfaction saying the bidding process was transparent.
The cost engineer who opened bids, Mr Aderemi Muriana said bidders will be invited for confirmation after appraisal in due course.
FCTA collaborated with BGD to do the process.
Speaking at the end of the exercise, the coordinator of the Abuja Infrastructure Investment Centre (AIIC), Faruk Sani, explained: “We just signed the development agreement with these companies and within the provision of the agreement a sufficient time was given to them to conclude their financial arrangement, sufficient time for them to fulfill conditions precedent before the agreement fully comes into force.
“One of the conditions for coming into force of the development agreement is the appointment of a construction contractor to be approved by FCDA [Federal Capital Development Authority]. This is the first step they have taken.”
Land swap initiative started by FCTA in 2010 was launched by Vice President Namadi Sambo on Thursday February 26, 2015 in Waru District of FCT.
Out of 15 companies shortlisted, six were picked to execute the land policy. They include: Urban Shelter Infrastructure Limited, System Property Development Company Limited, Afri-International Projects Limited, BGD Properties Limited, Gilmore Engineering Company Limited and AM-PM Global Network Limited.
Apart from the above, eight more investors are in the process joining the programme. They are: Dangote Group, Ketti East Infrastructure Limited, Bolmus Nigeria Limited, Deep Earth Nigeria Limited, Dayspring Limited, Haitong Limited, Rosehill Group and Waru-Pozema District Infrastructure Limited.
Investors are expected to pump in $2.8bn for engineering and N64 billion for resettlement under land swap.
The initiative called land-for-infrastructure swap will gulp $6 billion of investment.
It is a situation where government gives a green field to developers for real property development.
The developers in turn provide specified infrastructure on the land. Simply, it is initiative that bridges infrastructure gap using land.