Back
Top Search
Cross River State Super Highway, AKA Gakem Super Highway Project
14 Jun 2018

 

Industry

Transportation infrastructure construction;

The project is associated with the strategy of Nigeria’s transport sector to improve transportation infrastructure.

 

General situation

Description: The Super Highway is in the southern Nigeria state of Cross River State and will have six lanes total 260km spanning from Calabar (the capital of Cross River State) to Katsina Ala and will connect all local governmental areas along its route. Additional services will include: ambulance and security patrols, gas stations, and rest points. The managing government agency is Cross River State Ministry of Works, which will work in coordination with investor companies.

 

Timing: The project’s concession period is 30 years (meaning any investor’s involvement in the project and its maintenance will last no longer than 30 years). Construction is expected to last a total of 5 years: three of six toll plazas will be operational after 1 year; the other three toll plazas will be completed 6 months to 1 year thereafter.

 

Impact: The super highway will connect numerous economic zones of considerable impact within Nigeria and surrounding countries. A deep-sea port in Akpabuyo is expected to add an annual 10,000,000 cars to the highway; a university in Calabar (the state’s capital) will add an annual 3,000,000 cars. In total, over 20,000,000 cars are expected to traffic this superhighway upon completion. The highway will reduce travel times and improve economies on a local and regional level, which has been demonstrated by feasibility studies.

 

Total project investment

  • 550 billion NGN, or 1.529 billion USD

 

Needed Investment

  • 300 billion NGN will be provided by the African Development Bank, International Finance Committee, and other local/regional investment banks through debt;
  • 200 billion NGN will be provided by equity holders through equity of the project;
  • 40 billion NGN will be provided by the Cross River State Government;
  • 10 billion NGN will be generated through tolls and related revenues.

 

Contact:
Cooperation & Development Department,SRCIC


Email: cooperation@srcic.com