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MarketScreener Homepage  >  Equities  >  Nigerian Stock Exchange  >  Julius Berger Nigeria Plc    JBERGER   NGJBERGER009

JULIUS BERGER NIGERIA PLC

(JBERGER)
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Julius Berger Nigeria : Rivers Approves N18 Billion for Construction of Fourth Flyover, Dualisation of Roads

07/23/2020 | 08:07am EST

The Rivers State Executive Council has approved the sum of N18 billion for the construction of a fourth Flyover Bridge at the GRA Junction along the Port Harcourt-Aba Expressway.

The amount also covered the dualisation of Tombia Extension Road to Ikwerre Road and Ezimgbu Link Road to Stadium Road.

The approval for the project was made yesterday at the State Executive Council Meeting presided over by the State Governor, Nyesom Wike, at the Government House, Port Harcourt.

The State Commissioner for Information and Communications, Pastor Paulinus Nsirim, who briefed the press on the decisions of the council, said the project would be executed by the Julius Berger Nigeria PLC.

According to Nsirim, the length of the roads for expansion is 680 meters while that of the Flyover is 502 meters.

He said government took the decision to further strengthen its infrastructural development drive.

He stated that 20 indigenous engineers would be trained by Julius Berger Nigeria PLC during the contract period as part of government's policy on youth empowerment and skills acquisition.

He also announced that the State Executive Council has approved the building of a new Legislative Quarters for members of the State House of Assembly because the former Quarters have become dilapidated.

The commissioner said that this is in line with the governor's avowed commitment to ensure that the three arms of government work in synergy for the overall development of the state.

The State Commissioner for Works, Austin Ben-Chioma, also explained that the contract for the flyover and dualisation of the roads was given to Julius Berger Nigeria PLC based on its proven track record.

He said that the traffic difficulties experienced at the Ezimgbu Link Road would be a thing of the past when the project is completed, adding that the project would enhance the economic activities and the aesthetics of the state capital and urged Rivers people to show understanding during the construction period for it to be completed on schedule.

Copyright This Day. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English

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Average target price 32,06 NGN
Last Close Price 19,00 NGN
Spread / Highest target 68,7%
Spread / Average Target 68,7%
Spread / Lowest Target 68,7%
Managers and Directors
NameTitle
Lars Richter Managing Director & Director
Mutiu Sunmonu Chairman
Martin Brack Financial Director & Director
Jafaru Damulak Non-Executive Director
George Marks Vice Chairman
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