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Nigeria Seeks USD 1.8 Billion From China For Coastal Railway

Infra News - Published on Mon, 10 Jun 2019

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Punch reported that to get started on its long-planned coastal railway from Lagos to Calabar, the government of Nigeria will seek loans worth USD 1.8 billion from China. Transport minister Mr Rotimi Amaechi said that the first segment would run from Port Harcourt to Warri, and would cost USD 2.3 billion, with Nigeria contributing USD 500 million. He said that “The government has approved for us to seek a loan of USD 1.8 billionn to start work on the coastal rail. The coastal rail is from Lagos to Calabar. So we are taking the segment that starts from Port Harcourt to Warri to join the central line that goes to Abuja.”

However, Nigeria has been in talks with China to build the full 22-stop, 1,400 kilometer railway since 2014, with China Railway Construction Corporation,a subsidiary of China Civil Engineering Construction Company, in the frame since then to build it. At the time it was costed at USD 12 billion.

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Posted By : Rabi Wangkhem on Mon, 10 Jun 2019
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