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Intercontinental Partners with Asian Investors lntercontinental Bank Plc has emerged the leading banker to Global Formwork Limited Sdn. Bhd., a Malaysian construction giant, for a major housing project in Nigeria. The Nigerian partner of the Malay-sian firm, Global Formwork (Nigeria) Limited had secured the Federal Government's consent to build a residential estate in the district of Saraji, Abuja. The project, worth $650 million, comprises a well-balanced mix of low, medium and high cost dwelling units, commercial buildings as well as communal and recreational facilities that will create a modern and self-contained residential estate for 10,600 units of houses with an estimated population of 50,000. Global Formwork Nigeria Limited and its technical partner, Global Formwork Malay-sia, are developing the estate on a joint venture With the Federal Government of Nigeria and the Federal Capital Territory. The Malaysian firm, which is a strong player in the construction and real estate business, is expected to deploy the industrialized building systems and project management techniques that it has used successfully in Malaysia. In a dinner reception in honour of the directors of Global Formwork Nigeria and its Malaysian partners in Lagos recently, the Vice Chairman Chief Executive of Intercon-tinental Bank Plc, Dr. Erastus Akingbola commended Dire-ctors of the company especially the Chairman of Global Formwork (Nigeria) Limited, Chief Igwe Ojike, a founding director of Intercontinental Bank, saying with him on the Board, the company was destined to greater. He also paid glowing tribute to the Malaysian firm, noting the company's innovativeness in engineering a low material cost building technology that is second to none in the construction industry worldwide. Who Are We ? | About THISDAYOnLine.com | THISDAY People | Contact Us © Copyright 2000 Leaders & Company Limited

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