The Concessionaire for the construction of new Lagos Information and Communications Technology (ICT) Park, Bridgeways Global Projects Limited, has revealed that the project would cost about N43 billion and be ready in two and half years from now.
Otherwise known as Kantagowa ICT Business Park, which is to be situated along the Lagos-Abeokuta Express-way, the project is expected to be the permanent location of the current Ikeja Computer Village Market.
Speaking with The Guardian after a consultation meeting with association leadership of the Computer Village Market in Lagos at the weekend, the Chief Executive Officer of Bridgeways Global Projects Limited, Jimmy Onyemenam, said: “what we are developing in Katangowa will elevate the status of Lagos as a global technology location. It is far beyond providing real estate for the development of another Computer Village.”
Onyemenam, who said the prices are quite fluid, informed that by completion, the project is expected to half gulped about N43 billion.
The firm is expected to manage the planned park for the next 36 years, after which transfer goes to the state government.
He explained that the finances would come through a mixture of funding arrangements, which is already in place.
According to him, these include debt finance, equity participation and “of course, there is a very strong pool of foreign funding, which we shall also be working with. As it stands, the debt financing is being negotiated by our financial consultants and we are quite hopeful that within few weeks that should be completed.”
