real estate

Zambia to pay Kazungula bridge project fee balance by end year

December 19, 2020

Zambia’s Minister for Housing and Infrastructure Development Vincent Mwale has revealed that the government has released a total of US $73.7m towards the completion of the Kazungula bridge project with a balance of US $8.7m which will be paid before the end of this year.

The announcement comes after reports started circulating purporting that the Zambian Government had failed to pay its dues and would not honour the outstanding amount owed to the contractor.

According to the minister, an amount of US $82.3m has already been certified on the project of which US $73.7m has already been disbursed and the balance of US $8.7m whose certificates were received by the paying agent, National Road Fund Agency, will be paid before year end. This is within the 56 days allowed for settlement of certified Interim Payment Certificates.

“I would like to put it on record that the assertions currently being circulated via social media, purporting that the Zambian Government has failed to pay its dues and will not honour the outstanding amount owed to the Contractor, are not correct. It is worth mentioning that the payment of the retention amount on the part of the Zambian Government is contractual and shall be met. As such, Ministry of Finance through the National Road Fund Agency is working towards the settling of the Interim Payment Certificate (IPC) before the end of the year,” he said.

He further added that, it should be noted that a balance on the contract in the sum of US $4.7m remains to be certified and issued to the Zambian Government.

Kazungula bridge

The Kazungula Bridge project is a multi-national project in the North-South Corridor and is part of an infrastructure improvement programme that covers the whole corridor. The project includes a bridge linking Botswana and Zambia over the Zambezi River to replace the existing ferry, and a one-stop border facility at Kazungula.


Top News

real estate

House market did well in 2020, but slowe...
January 20, 2021
Ras Al Khaimah adds new landmark with th...
January 20, 2021
Skanska to build $187m Orlando Health Je...
January 11, 2021