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The National Pensions Scheme Authority (NAPSA) has reportedly collaborated with Macro Oceans Investment Consortium (MOIC) to lead the transformation of the US$650 million Lusaka-Ndola dual carriageway.
NAPSA Vice Board Chairperson, Myra Ngoma, said the upgraded transportation infrastructure was expected to facilitate the movement of goods, thereby stimulating economic activities.
In addition to the economic gains, she said the project was poised to generate numerous job opportunities, providing employment for local communities.
Ngoma said this on Wednesday during the official signing ceremony in Lusaka.
Under the terms of the agreement, MOIC would embark on a 25-year concession period, managing the financing, design, construction and maintenance of both roads.
“The road has potential to drive economic growth in both urban and rural areas along the corridor,” Ngoma said.
MOIC representative, E. Shangfa, expressed confidence in the timely completion of the project, committing to finalise the construction within a span of three years.
Laurian Haangala, representing the Workers Compensation Control Board, affirmed the long-term dividends of investing in road infrastructure, emphasizing the positive impact on job creation.
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