President Julius Maada Bio has yesterday hosted an investor’s conference at State House in Freetown, regarding the most ambitious project by any government ever in the history of Sierra Leone, which involves constructing a bridge linking Freetown and Lungi. The cost of the bridge is pegged at US$ 2.1 billion.
The Presidential adviser, on Infrastructure and Head of Infrastructural Affairs in the Office of the President, Ing Dr. John E. Tambi, stated that for over 58 years Sierra Leoneans had to contend with challenges in travelling to and from Lungi. He said that, in the process, lives have been lost, businesses have been destroyed and economic opportunities have been stunted, and Sierra Leoneans have accepted such a reality and lived on.
Ing Dr. Tambi noted that the New Direction Government has taken the audacious and ambitious project to build a bridge linking the capital with Lungi. He blasted at people who just believe that the project was merely wishful thinking, citing promises made by past governments to build the bridge.
Photo Credit: State House Communications
President Bio, during his statement, noted that his Government had a different approach to infrastructural development. He expressed that all infrastructural developments under his government would not incur high debts that generations yet unborn will struggle to pay.
He maintained all future infrastructural projects should be able to pay back for themselves using the most appropriate financing model in the next ten to twenty years.
President Bio told potential investors, newsmen and other members of Government that all infrastructural projects must be affordable and purposeful with huge potentials for economic growth, job opportunities, training and skills transfer for youths.
He disclosed that, for the purposes of transparency and accountability and to further eliminate corruption in the tender processes for the project, the infrastructure initiative office is right under his supervision at State House and assured all that the processes leading to the award of the contract would be open and highly competitive.
The climax of the occasion was the presentation of the feasibility report for the US$ 2.1 billion Lungi Bridge together with the technical details by the Head of Infrastructure in the Office of the President Ing. Dr. Tambi, who told the President that several feasibility studies have been done on the Lungi Bridge, but the current one is Sierra Leonean owned and has taken into consideration all the desires that Sierra Leoneans would like to see in the project.
Investors present and members of Government responsible for the project later retreated with the investors, who have expressed interest in the project and were in attendance.
During his maiden visit to the People’s Republic of China to attend the FOCAC summit, President Bio had expressed his commitment to build a bridge across Lungi from the capital Freetown.
The Minister of Finance, Jacob Jusu Saffa, has told the press at the time that they met with potential investors in China, who are willing to build the Lungi Bridge under the transfer financing model.
The presentation of the feasibility studies and the eventual hosting of potential investors for the very ambitious project are seen as the start of the journey. It has been rumored that a number of investors have shown interest in the project.
It is still very early to gauge responses of Sierra Leoneans and the international financial institutions, like the International Monetary Fund, to the move by Government to undertake the ambitious project amidst these trying times in the country’s economy.
Bread and butter issues remain very challenging, even though Government has done a lot to stabilize the economy and restore donor confidence.