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The Lagos State Commissioner for Information and Strategy, Mr. Steve Ayorinde, has announced that the Red Line, which is the second phase of the Lagos State Government's mass transit rail project, will be funded by a Public Private Partnership (PPP) model.
The project will be developed on a build operate and transfer basis. Mr. Steve Ayorinde stated:
"We wish to clarify that the approval that was kindly granted Lagos State government is on the right-of-way. The approval does not involve any form of funding from the federal government. There is a preferred bidder to undertake the project through a PPP, BOT arrangement and the Lagos State government is in full discussion with the preferred bidder on how to proceed."
The Red Line Rail PPP project involves the development of a mass rail transport (MTR) line from Alagbado to Victoria Island. The new line will complement the Blue Line Rail Project which is already being executed in phases: Mile 2 to CMS which is currently being executed and Mile 2 to Okokomaiko, which will be done later.
The newline is expected to be operational by the end of 2016.
Lagos Mass Transit Rail Project is being sponsored by the Lagos Metropolitan Area Transport Authority (LAMATA) and is envisioned to consist eventually of seven lines, the red line, the blue line, and four other more. The railway equipment including electric power, signalling, rolling stock, and fare collection equipment will be provided by the private sector under a concession contract. LAMATA is responsible for policy direction, regulation, and infrastructure for the network.
Other PPP projects in the Lagos area are: