The Minister of State for FCT, Mrs Olajumoke Akinjide, yesterday said that the FCTA is ready to redevelop the Utako motor park, Abuja, into an ultra-modern transportation terminal.
Akinjide was speaking at the signing of a Memorandum of Understanding (MoU) with the FCTA and the Intercity Transport Terminal Limited (ITTL) in Abuja.
She said that the project would be executed through public/private collaboration at N22.2 billion.
She said that the new park would be built at Utako motor park permanent site, located in the Idu Industrial Layout in line with the FCTA master plan.
The minister said that the movement of the park was crucial to de-congest the city centre and develop its suburbs.
“ We need modern parks in our city; we have to also address traffic congestion on our roads,’’ she said.
According to the minister, it remains 48 months for completion from the date of execution of the agreement.
Akinjide said that the transportation terminal would have modern infrastructure such as a 200-room four-star hotel, shopping mall, fire station, clinic, police and petrol stations.
She said that the shareholders were the ITTL, 70 per cent; the FCTA, 10 per cent and the Abuja Municipal Area Council, 20 per cent equity.
In his remarks, Chairman, ITTL, Prof. Charles Inyangete, said the company would ensure specifications were met in executing the project.
The News Agency of Nigeria (NAN) reports that the project, when completed, will be franchised for 25 years. (NAN)