Preliminary works have commenced on the construction of the long awaited Second River Niger Bridge in Anambra.
The Chairman of the construction firm – Julius Berger- retired AVM Nurudeen Imam, said this in Abuja at the company’s Annual General Meeting on Thursday.
Imam said the company successfully entered the Public Private Partnership (PPP) market and was selected as preferred bidder for the second River Niger Bridge project.
The chairman stated that the firm also commissioned the Lekki-Ikoyi (Admiralty-Alexander) Link Bridge, West Africa’s first cable bridge.
He said the construction firm also completed works on some other major and impressive projects.
Imam identified the projects as Procter and Gamble Baby Care Expansion Facility; the Central Bank of Nigeria branch office in Lagos; the Bonny River Terminal Airstrip and the Lagos Oando Jetty.
“We have also completed the Uyo-Abak road and several phases of the Uyo Government House as a direct result of our positive performance and partnership.
“The lifespan of these projects continue to be prolonged through award of extensions’’, he said.
Imam told the shareholders that the company was diversifying and delving into other business areas as a deliberate policy objective.
“In this respect, project identification and prospective business potentials in the power, oil and gas as well as the private sector, are currently under due diligence” , he said.
Imam said that “in 2013, we continued to nurture the development of the Julius Berger group of companies as a means of supporting provision of integrated construction solutions.
“Prime Tech Design and Engineering and Julius Berger Medical Services, both in initial years of existence, have made progress in their structural and recruitment processes’’, he said.
On the business results for the 2013 financial year, the chairman told the shareholders that the group turnover rose by 5.5 per cent from N201.6 billion to N212.7 billion.
He said this reflected “the financial and strategic progress of Julius Barger and its subsidiaries.’’
Imam said there was a 31.4 per cent increase in profit before tax from N12.3 billion to N16.2 billion for the trading year.
The chairman said the company’s Board of Directors recommended an increased dividend of N2. 70k per ordinary share, resulting in gross dividend payment of N3. 24billion.
He said this represented an improvement over that of 2012 fiscal year which was N2.50 per ordinary share.