CONSTRUCTION OF IBADAN CIRCULAR ROAD PROJECT.
ENL Consortium Ltd was awarded on a Build, Operate and Transfer basis, a 32-km road construction by the Oyo State Government in 2017. This Circular Road project, also known as the East End Wing of the Circular Road, is aimed at by-passing and eliminating traffic congestion along the busy Lagos – Ibadan route by offering an alternative route through this proposed road.
It should be noted that though the Lagos – Ibadan Expressway is the busiest and most important access road in Nigeria (it links the economic nerve centre of Nigeria (Lagos State) to other states of the country), the perennial heavy traffic situation especially towards the Ibadan axis has necessitated the need for an alternative route which this project seeks to address. A ring road earlier built could not address this situation. The economic importance and viability of addressing this need therefore underpins ENL’s pursuit for and eventual award of the concession agreement for this road project. The investment on this road will be recouped via tolling in 35 years.
The feasibility studies included traffic surveys conducted by two reputable consultants including a London-based expert. The financial model that underscores the contract agreement with the Oyo State government depicts economic sustainability for the project even when the traffic count is discounted at 30% and 50%. Note that we commenced construction work in September 2017 and acquired an array of construction equipment for this purpose.
PARADISE HILLS ESTATE
ENL/FHA HOUSING PROJECT
Project: Paradise Hills Estate
Location: Apo, Abuja
Client: This Project is a prime example of the benefits derived by public- private partnership agreements.
Paradise Hills is a joint venture between the Federal Housing Authority (FHA) of Nigeria and ENL Consortium Construction Limited.
POWER PLANT ACQUISITION
As part of the on-going power sector reform program which commenced in 2005 following the enactment of the electric power sector reform act of 2005, the Federal Government of Nigeria (“FGN”) through the Niger Delta Power Holding Company Limited (“NDPHC”) and the National Council on Privatisation (“NCP”) approved the privatisation of 10 National Integrated Power Projects (“NIPP”) or (“NDPHC Generation Companies”) through the sale of 80% majority stake in each power plant.
Following a competitive pre-qualification process, ENL Consortium Ltd was invited alongside other consortia to submit technical and commercial bids for the acquisition of an 80% equity stake in Olorunsogo Generation Company Limited (“OGCL”). The “OGCL” is the owner of the 754MW combined cycle gas turbine plant with four gas turbines (GE Frame 9E Gas Turbines) and two steam turbines (GE Steam Turbines) located in Olorunsogo, Ogun State, Nigeria (the “Share Acquisition” / “Project”).
ENL emerged as the Preferred Bidder, having submitted a technical bid that surpassed the evaluation threshold and the most competitive commercial bid with a price of US$751.240 Million (the “Bid Price”). In accordance with the earlier guidelines for the FGN privatization process, ENL was required to issue a Bank Guarantee in favour of Bureau of Public Enterprises for 15% of the Bid Price. ENL has posted this bid bond thrice. Thereafter, ENL shall be required to make an initial deposit of 25% of the Bid Price within 15 days of executing the Share Sale Agreement with the balance of 75% of Acquisition Amount due within [6months] of executing the Share Sale Agreement.
However, because the precedent conditions in the power sector at the time made the transaction unbankable, ENL, alongside other Preferred Bidders, could not execute the Share Sale Agreement.
At present, the Federal Government, after joint negotiations, has met most of the demands of the Preferred Bidders. This has made ENL to pursue the transaction closure of the acquisition of this Power Plant.
HAASTRUP MALL
Contract: Design and Construction of Haastrup Entertainment Centre
Location: Gwarinpa, FCT Abuja
Client: ENL Consortium
Estimated Revenue: 13,440,000,000 Billion Naira or 84,000,000 Million Dollars per year.
The Haastrup Entertainment Centre , situated in Gwarinpa, boasts of a 17,000 sq meter site with all the following amenities:
A Grand Boutique Hotel with 50 rooms, a shopping centre, retail and grocery mall, fine cuisine restaurants; a top floor sit-out that has the best skyline view in Abuja; a state of the art 200- seater 3D theater; a 5D theatre, and the first of its kind in Africa: a 7D interactive theater.
Behind the main building is the “The Splash” Waterpark: a one of a kind blend of interactive water gauntlet and wipeout zone, a water fortress and play area with 8 children’s waters slides, interactive bumper boats and a drop buckets.
The Haastrup Entertainment Complex or Haastrup Mall brings you an exquisitely designed banquet hall. The Grand hall is located on the first floor of Wing A of the main plaza building and accommodates 600 seating spaces.
The suites of the boutique hotel have luxurious furnishings that offer you peace and rest from a long journey. The hotel has a variety of rooms ranging from economy suites to King sized suites. These suites are located on the second and third floor of the plaza, and afford the best views of the beautiful scenery or the area and Aqua Park environment. It offers opulent yet comfortable spaces for living, working and entertainment.
The Haastrup hypermarket is a large full-service supermarket combined with a department store, a one stop store to meet all of our customer’s needs. Services offered here include those of ATM banking, café, a pharmacy, fresh meat and frozen foods, electronics, bakery products, International and many local fruits and vegetables.
The Haastrup Plaza hypermarket occupies wing C of the plaza, while it departmental section flow seamlessly into Wing A and Wing B on the first floor level. The shopping area/ ground floor sales occupies about 1000sqm consisting of the bakery, supermarket and fruit sections. We have elevators, stairs, and an escalator to aid the movement of customers and goods from ground floor to the upper level. The first floor sales/ shopping includes shop spaces of varying sizes between 30-102 sqm for rent or possible sale.
On the Wing A is the Chinese restaurant which can accommodate over 400 people in a single seating and will give you that exceptional customer service you expect from a specialty restaurant.
The ground floor occupies 270 m2 area with seating capacity of 193 customers. It also includes a self-serving buffet that allows for direct selection of items to be prepared in front of you by the Hibachi chefs (size 17.9 m2 area), or you can order many of the dishes from the state of the art Kitchen which will prepare all the favorite dishes you know and specialty items from the menu (À la carte).
The mezzanine floor area size is 311 m2 with a spacious 219 seating capacity, with two specialty lounges that offer a special taste from China, Lamb roasting tables and a vegetable server. This idea is being brought right from China to let you explore a unique and traditional dining experience from Xi’an province.
This restaurant is tastefully designed to give an elegant yet relaxed atmosphere. Quality fresh food and exceptional Chinese cuisines prepared by professional Chinese chefs.
