Minister for Housing and Infrastructure Development Vincent Mwale has revealed that the government has released a total of US $73.7m towards the completion of the Kazungula bridge project with a balance of US $8.7m which will be paid before the end of this year.
The announcement comes after reports started circulating purporting that the Zambian Government had failed to pay its dues and would not honour the outstanding amount owed to the contractor.
According to the minister, an amount of US $82.3m has already been certified on the project of which US $73.7m has already been disbursed and the balance of US $8.7m whose certificates were received by the paying agent, National Road Fund Agency, will be paid before year end.
Zambia’s Minister for Housing and Infrastructure Development Vincent Mwale has revealed that the government has released a total of US $73.7m towards the completion of the Kazungula bridge project with a balance of US $8.7m which will be paid before the end of this year.
The announcement comes after reports started circulating purporting that the Zambian Government had failed to pay its dues and would not honour the outstanding amount owed to the contractor.
According to the minister, an amount of US $82.3m has already been certified on the project of which US $73.7m has already been disbursed and the balance of US $8.7m whose certificates were received by the paying agent, National Road Fund Agency, will be paid before year end. This is within the 56 days allowed for settlement of certified Interim Payment Certificates.