Bi-Courtney Highway Services Ltd has the capacity to carry out standard reconstruction and expansion work on the Lagos-Ibadan expressway, company’s spokesman, Dipo Kehinde, said on Friday.

This followed the long delay in the reconstruction of the 105-kilometre project since the award of the contract in May 2009.

Kehinde described the company as “a Special Purpose Vehicle (SPV),” formed by a consortium of companies led by Bi-Courtney Nigeria Ltd., to deliver the rehabilitation and upgrade of the Lagos-Ibadan Expressway, under a concession agreement.

He said the company’s level of preparation and readiness for the implementation of the Lagos-Ibadan expressway project was reflected in the

team it had assembled for it.

“We have the construction firm, Group Five; the financier, Rand Merchant Bank, Yolas; Vela VKE, Project Management International; and Aurecon, the firm that is providing independent Traffic and Technical Advisory Services.

Kehinde said the group was a provider of integrated building, infrastructure and engineering solutions operating in South Africa, the rest of Africa, the Middle East and Eastern Europe.

“Since its listing on the Johannesburg Stock Exchange in 1974, the group has played a major role in the development of Southern Africa’s infrastructure, achieving a reputation both nationally and internationally, for innovation and professionalism,” he said.

According to him, recent capital projects of the group included the N1N2 Toll Road Concession valued at $2.5 billion (about N389.3 billion) and King Shaka International Airport, Durban, South Africa, valued at 700 million dollars.

Kehinde also cited the Zimbabwe Road Rehabilitation Project Phase 1, valued at 200 million dollars, among others.

He noted that the company’s chairman, Wale Babalakin (SAN), deserved commendation for his commitment to the success of the project.

Kehinde noted that Babalakin paid out N35 million monthly to about 200 personnel, including expatriates, assembled for the project.

“If Babalakin did not want to fix this road, why would he be investing so much in it?” he asked.

Kehinde said that the antagonistic stance of one of the host state governments of the expressway with the concessionaire, had in no small measure contributed to the delay in the full commencement of work on the road.

According to him, that particular state government has always frustrated efforts to advance work on the road, noting that they seized some of the company’s equipment and have also refused to release the company’s newly-acquired $5 million Asphalt plant, for use on the road.

Kehinde, however, added that the company was witnessing some new development which would translate into full commencement of work on the road shortly.