Railway Modernization: FG Signs Contract Agreement With Chinese Firm

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The Federal Government of Nigeria, in a bid to improve the railway system in Nigeria, has signed a contract agreement with Chinese firm CCECC Nigeria to construct the Lagos-Ibadan double track.

The Minister of Transport, Senator Idris Umar announced the award of the contract worth a sum of $1.49billion, with CCECC Nigeria to construct a rail line covering a distance 156.65km (313.30km double tract) in about 36 months.

According to the minister, the project was to be partly financed by the Chinese government through the concessionsary loan facility of the China Exim bank, who have already approved an initial sum of $500million.

Mr. Cao Bao Gang, Manaing Directorof CCECC Nigeria said the railine would be completed on time, and had the capacity to provide 5,000 jobs.

Wana

Wana

Quo non Ascendam. Writer. E-mail: wana@360nobs.com

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