The Federal Executive Council (FEC) has approved the concession of the Central Workshop Ijora, Lagos State, for rehabilitation and optimal operation.
The concession will be operated under the regulatory guidance of the Infrastructure Concession Regulatory Commission (ICRC).
This is contained in a statement signed by Manji Yarling ICRC’s Head of Media and Publicity in Abuja on Thursday.
Yarling said this was the First Public Private Partnership (PPP) project to be approved under the new administration of President Bola Ahmed Tinubu.
According to her, the concession which will adopt a Rehabilitate-Operate-Maintain-Transfer PPP model, seeks to upgrade the central workshop to ensure its functions are realised.
Yarling said the Federal Ministry of Works was the grantor.
“The project, which is an unsolicited project (Privately Initiated Infrastructure Proposals – PIIP) by Beta Transport Nigeria Limited, is expected to generate N28.1 billion within a 20-year concession period.
The concession which will adopt a Rehabilitate-Operate-Maintain-Transfer PPP model, seeks to upgrade the central workshop to ensure its functions are realised.
She said the central workshop, Ijora, Lagos (CWI) was an appendage of the defunct Public Works Department (PWD).
“The PWD was the agency of the Colonial Government responsible for building and maintaining government buildings and property, roads, rail tracks, bridges, harbours, and aerodromes.
“During the colonial era, the workshop was used for the maintenance of vehicles, sewage treatment plants, and water supply equipment.
“It also provided technical advice to other departments in the Colony. Presently, the workshop is not operating optimally hence, the need to engage private sector participation.”
Yarling said with the approval by FEC, the concessionaire would ensure that productive and professional work would be carried out in the workshop.
“This will be in line with standard guidelines and operating procedures via the provision of modern equipment.”
She said the concessionaire would also ensure that the workshop ran at the highest standard of operational excellence and restore the past reputation of engineering productivity and excellence.
“The activities of BETA will complement the mandate of the Engineering Services Department of the Federal Ministry of Works for the fabrication of mechanical tools, products, poles, and foundry items amongst others.”
Yarling said the rehabilitation of the workshop would also provide repair services to most of the run-down trucks and vehicles which would have otherwise been left parked on the roadsides.
“This will in turn decongest the roads in this area.” (NAN)