Oyo State Governor, Engineer Seyi Makinde has flagged off the reconstruction of the Airport-Ajia-New Ife Express road with a spur to Amuloloko.
The contract that was awarded to Messrs Peculiar Ultimate Concerns Ltd will cost N8.5Billion and it is scheduled to be completed within 18 months.
According to the Governor, the contractor is from Osun State, but there is an undertaking that the construction labour will come from Oyo State residents.
“Earlier today, we flagged off the reconstruction of the Airport-Ajia-New Ife Express Road with a spur to Amuloko (21kms). The cost of the project is N8.5B and it is scheduled to be completed within 18 months. This project is being implemented under the Alternative Project Funding Approach (APFA).
“Under APFA, the contractors fund the projects with their own money while the state repays them over a period of time, in this case, 29 months. As a result, we decided that it would be best to open up the bidding process so that contractors outside of Oyo State can bid as well.
“The contract was awarded to Messrs Peculiar Ultimate Concerns Ltd, whose representative, Engr Abel Adeleke, is from the neighbouring Osun State. The contractor has the means to fund the project, and has undertaken that the construction labour will come from Oyo State residents” he said.
