The Lagos State Government will later this month lay the foundation of the Eko Atlantic City. The project involves the reclamation of eight square metres of land from the Atlantic Ocean through seabed dredging in an environmental friendly process.

A statement from the Public Relations Officer, Ministry of Waterfront Infrastructure Development, Mrs. O. O. Rotimi, on Monday quoted the commissioner, Prince Adesegun Oniru, as disclosing this.

The Atlantic City, according to the statement, will combine residential, commercial, and financial and tourist accommodation in a location serviced by state-of-the-art high-tech infrastructure and is projected to be the next real estate hub in Africa.

Oniru reiterated that the development of the project would be handled by a private developer, Energyx BV, at no cost to the state government.

Among the many benefits of the project to the state, according to the commissioner is the creation of employment opportunities for not less than 50,000 people, while the sorting of approval by the developer will also generate income for the state government.

http://www.punchng.com/Articl.aspx?theartic=Art200804150161542