{"id":124182,"date":"2025-12-03T19:55:06","date_gmt":"2025-12-03T18:55:06","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=124182"},"modified":"2025-12-03T19:55:06","modified_gmt":"2025-12-03T18:55:06","slug":"deutsche-bank-to-finance-third-mainland-bridge-others","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/deutsche-bank-to-finance-third-mainland-bridge-others\/","title":{"rendered":"Deutsche Bank to Finance Third Mainland Bridge, Others"},"content":{"rendered":"<div style=\"text-align: justify;\">By Daniel Adaji<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Deutsche Bank has indicated strong interest in financing major Lagos bridge projects, including the rehabilitation of the Third Mainland Bridge and the replacement of Carter Bridge.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Special Adviser to the Minister of Works, Orji Uchenna disclosed this in a statement on Wednesday.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">This is following a meeting with the Minister of Works, Sen. Nweze Umahi, in Abuja on Tuesday.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The delegation led by Moritz Dornemann, Managing Director and Global Co-Head of Structured Trade and Export Finance, and Andreas Voss, the bank\u2019s Chief Country Representative in Nigeria, said they were in the country to express readiness to support critical national infrastructure.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">They informed the minister that they came \u201cto indicate interest in the funding of the replacement of Carter Bridge, Lagos and the rehabilitation of 3rd Mainland Bridge, Lagos.\u201d<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">According to them, President Bola Tinubu\u2019s push for large-scale, quality road infrastructure has given investors confidence in Nigeria\u2019s long-term economic direction.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">They commended \u201cHis Excellency Bola Ahmed Tinubu GCFR, for his commitment to the development of large scale and quality road infrastructure across the nation which they noted was critical in achieving sustainable economic growth and national prosperity.\u201d<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The team also praised Hitech Construction Nig. Ltd for the progress on the Lagos-Calabar Coastal Highway and said \u201cwith the success recorded on the project, the Deutsche Bank was confident in the prospects of the Renewed Hope Agenda on the road network development and would be interested in further funding of the Lagos-Calabar Coastal Highway project.\u201d<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">They also praised the Federal Ministry of Works for \u201ctheir effectiveness and efficiency in the delivery of the project and other ongoing legacy projects across the nation,\u201d adding that they were willing to fund successful bidders.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Umahi welcomed the bank\u2019s commitment and noted that the Lagos-Calabar Coastal Highway project had already attracted significant investor interest.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">He said he appreciated their dedication to the initiative, stressing that the project \u201cwas over subscribed by over 100m Dollars\u201d and thanked them for their assessment of the project\u2019s cost, \u201cwhich they said was even undervalued.\u201d<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">On Lagos\u2019 aging bridges, he noted the urgency. On Carter Bridge, he said it \u201cwas so badly damaged that it needed a replacement,\u201d adding that ongoing remedial works were merely sustaining its integrity pending full reconstruction.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">For the Third Mainland Bridge, he acknowledged that \u201cthe underwater elements\u2026 have severe defects,\u201d but clarified that the structure would not be replaced. Instead, he said \u201cthere would be a comprehensive repair of the underwater elements to retain its sustainability for another 50 years.\u201d<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Umahi assured the delegation that the procurement processes for both projects were transparent and progressing steadily. He told them the two projects \u201care undergoing a very unbiased procurement process, and they would be carried along as soon as successful bidders emerge.\u201d<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>By Daniel Adaji Deutsche Bank has indicated strong interest in financing major Lagos bridge projects, including the rehabilitation of the Third Mainland Bridge and the replacement of Carter Bridge. Special&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":124183,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-124182","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Deutsche Bank to Finance Third Mainland Bridge, Others - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/deutsche-bank-to-finance-third-mainland-bridge-others\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Deutsche Bank to Finance Third Mainland Bridge, Others - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"By Daniel Adaji Deutsche Bank has indicated strong interest in financing major Lagos bridge projects, including the rehabilitation of the Third Mainland Bridge and the replacement of Carter Bridge. 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