Zambia News

NAPSA Signs $650 Million Agreement to Upgrade Lusaka-Ndola Dual Carriageway

The National Pensions Scheme Authority (NAPSA) has inked a momentous deal worth $650 million with Macro Oceans Investment Consortium (MOIC) to kickstart the transformation of the Lusaka-Ndola dual carriageway.

In a ceremony marking the signing of the agreement, NAPSA Director General, Muyangwa Muyangwa, disclosed that the ambitious project encompasses the upgrading of the 327-kilometer road, along with the rehabilitation of the 45-kilometer Luanshya-Fisenge-Masangano route.

Muyangwa elaborated that under this agreement, Macro Oceans Investment Consortium will embark on a 25-year concession period. During this time, the consortium will handle the financing, design, construction, and maintenance of both roads.

Myra Ngoma, Vice Board Chairperson of NAPSA, emphasized the profound benefits anticipated from the construction of the extensive road network. Ngoma highlighted that beyond enhancing connectivity, the upgraded roads will catalyze economic growth in urban and rural areas along the corridor. Additionally, the improved transportation infrastructure is expected to facilitate the movement of goods, further stimulating economic activities.

Representing the Workers Compensation Control Board, Laurian Haangala expressed confidence in the long-term advantages of investing in road infrastructure. Haangala asserted that such investments are poised to yield dividends for Zambia for years to come.

E. Shangfa, the representative of Macro Oceans Investment Consortium – LN Consortium Limited, exuded confidence in the timely completion of the project. Shangfa pledged that the construction of the road would be finalized within a span of three years.

The signing of this monumental agreement marks a significant step towards the modernization and development of Zambia’s transportation infrastructure. As the project progresses, expectations are high for the socio-economic transformation it will bring to communities along the Lusaka-Ndola corridor.

Source: Lusakatimes

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