African Development Corporation (ADC) and SORAS, a local insurance company, have pulled out of the project to redevelop Nyabugogo bus terminal.
The two institutions made a bid to take up the re-development of the taxi park which is currently in a very sorry state. It would have cost Rwf 2.5bn.
The two partners pulled out arguing that the location of the project was small.
Speaking to The New Times, the board chairman of SORAS, Charles Mporanyi, said that the terminal is very small basing on the evaluation that was carried out by Price Waterhouse Coopers.
“We had a very good project for Nyabugogo, but the place was very small for our investment and so we proposed to the authorities to shift the project to Giti Kinyoni because it’s bigger and befits our project.”
“The authorities replied that the area was programmed for mining purposes,”
However he said that all is not lost, saying there was still room for another development project.
When contacted, Alphonse Nizeyimana, Kigali City Vice-Mayor in charge of Finance and Economic Development, said there would be another chance to bid after a detailed study.
Nizeyimana said KCC has set aside Rwf500 million for detailed study of the master plan for Nyabugogo taxi park terminal.
“We have set Rwf500 million for full detailed study of the master plan and after this we put it to the public for investment, but this is in the framework of 2011 development plan,” said Nizeyimana.
He revealed that the plans to commence the study are slated for July after the national budget.
The bus terminal, which is affecting taxi operators and merchants at the park, is undergoing 3 months of minor renovations in order to create a more conducive environment.