WED NOV 27 2024-theGBJournal| Julius Berger Nigeria said it made significant efforts over the past 14 months to negotiate fair adjustments to the contract price for the Rehabilitation of Abuja-Kaduna-Zaria-Kano Road in the FCT, Kaduna and Kano States, particularly to address the reimbursement for severe material price increases as allowed for in the contract.
”In good faith, Julius Berger returned to work on-site in 2024, but no payments were received for any works executed on the project after November 2023 and therefore, works had to be suspended once more,” Julius Berger said while explaining its position
”Despite these efforts, negotiations did not result in a mutually acceptable agreement.”
The construction giant said it has consistently collaborated with the Ministry in search of a solution that upholds due process and contractual obligations, aiming to minimize risk and support the project’s success.
It added that it is still exploring options for a viable resolution that could allow the project’s sustainable continuation while safeguarding shareholder interests.
The contract was originally awarded to the Company in December 2017 and was terminated last week by the Federal Government over dispute on contract costs and implementation, and after a 14-day notice of contract to the Julius Berger.
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