Governor Akinwunmi Ambode has terminated the contract for the construction of the 4th Mainland bridge.
According to reports, a Memorandum of Understanding (MOU) was signed with a consortium of companies on May 25, 2016.
The Lagos state government said the contract was terminated because the concessionaire was working at a slow pace.
Speaking at a ministerial briefing at Alausa, Ikeja, the Commissioner for Waterfront Infrastructure Development, Adebowale Akinsanya said other investors have shown interest from all over the world.
He said “Due to slow pace of work, the contract was terminated. We are now looking at many investors, though interest is very high.
“The state government has started the proposals. We have such investors from South Korea, Europe and the United States, among few others. What we are doing now is vetting the proposals. We do not want to waste any further time. So works are in top progress on the 4th Mainland Bridge.
“The investors would be named very soon, the state government will enter into concession agreement with appropriate investors that deliver the project.”
