Post by Admin on Jul 8, 2014 16:21:33 GMT
The Seriake Dickson administration in Bayelsa State is seeking N40bn loan from commercial banks to enable it complete the construction of its cargo airport.
The airport project is located near Amassomma in Southern Ijaw Local Government Area of the state.It was learnt that Dickson had last week forwarded a letter of request to the state House of Assembly seeking approval of the government to stand as a guarantor for the Bayelsa Airlines to secure the loan.
Though the total cost of the airport project could not be ascertained, it was gathered that the facility would attract a total interest of N32bn to be serviced within eight years. This will bring the total loan repayment to N72bn.
It was further learnt that the Governor had in his letter, explained to the lawmakers that the airport project was designed for the largest cargo and commercial aircraft to land.
Dickson was said to have assured the Assembly that the airport would be ready for use by the last quarter of 2015.He was said to have clarified that the Federal Government’s contribution to the project was the construction of the terminal building while its earlier contract awarded through the Niger Delta Development Commission to sand fill the site would continue at its pace.
“Out of the total estimated cost of the project, the state government has already spent N9.3bn for payment of compensation for land owners, consultancy services, construction of runway and clearing of land, among others,” Dickson explained in the letter.
More www.punchng.com/news/bayelsa-seeks-n40bn-to-complete-cargo-airport/
The airport project is located near Amassomma in Southern Ijaw Local Government Area of the state.It was learnt that Dickson had last week forwarded a letter of request to the state House of Assembly seeking approval of the government to stand as a guarantor for the Bayelsa Airlines to secure the loan.
Though the total cost of the airport project could not be ascertained, it was gathered that the facility would attract a total interest of N32bn to be serviced within eight years. This will bring the total loan repayment to N72bn.
It was further learnt that the Governor had in his letter, explained to the lawmakers that the airport project was designed for the largest cargo and commercial aircraft to land.
Dickson was said to have assured the Assembly that the airport would be ready for use by the last quarter of 2015.He was said to have clarified that the Federal Government’s contribution to the project was the construction of the terminal building while its earlier contract awarded through the Niger Delta Development Commission to sand fill the site would continue at its pace.
“Out of the total estimated cost of the project, the state government has already spent N9.3bn for payment of compensation for land owners, consultancy services, construction of runway and clearing of land, among others,” Dickson explained in the letter.
More www.punchng.com/news/bayelsa-seeks-n40bn-to-complete-cargo-airport/
