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Dangote, Chinese Consortium, Others Selected to Participate in FCT Land Swap Scheme

By on October 9, 2012

FCT Minister, Bala Mohammed

The Federal Capital Territory (FCT) land swap scheme is an initiative of the minister of the Federal Capital Territory, Senator Bala Mohammed.

The scheme offers investors land in Abuja at no cost, as long as the investors undertake to execute infrastructure projects on the land.

Thirteen companies have received approval to participate in the project. The companies are Dangote Group, Gilmor Engineering, China Railway Construction Company Limited, First Aries Crude Oil Limited, System Properties Development Consortium Limited, Adkan Services Limited, Edimo Group, Ridley Group, Afri-International Projects & Consulting Limited, Hongye Group, Rosehill Group, Nimec Investment Company Limited and Balmus International Limited.

As a condition for moving ahead wit the project, the selected companies are expected to open and finance a project fund account with a commitment fee of N350 million.

Also required from the shortlisted companies are business plans, preliminary design, detailed engineering design, survey plan, feasibility studies and preparation of agreement.