Cape Verde: Funding for construction of ring road 100 pct secured

4 November 2008

Sao Filipe, Cape Verde, 4 Nov – Funding to carry out reconstruction work of the Fogo Island ring road has already been 100-percent secured, and work is due to start in the first half of 2009, Cape Verde’s prime minister said in São Filipe.

José Maria Neves said that the tender for the project was currently udnerway and that it was due to be granted by the end of December.

The refurbishment project for the ring road, drawn up by a team from Kuwait’s TAEP company, is split into two sections, the first linking Sao Filipe to Mosteiros covering 39.6 kilometres, and the second connecting São Filipe and Santa Catarina, which is 27.2 kilometres long.

On Tuesday, the body responsible for promoting the tender will organise a visit to the work site, which will be attended by representatives from the nine competing companies.

Funding for the project, totalling 4 billion Cape Verdean escudos, will be provided by the fund of the Organisation for Petroleum Exporting Countries (OPEC), the Kuwait Fund, the Bank for Economic Development of Africa (BADEA), and by the Cape Verdean government. (macauhub)