China to fund and build $3.9bn railway from Nigeria’s capital to the sea

https://www.globalconstructionreview.com/news/china-fund-and-build-39bn-railway-nigerias-capital/?fbclid=IwAR2O0SGjoGMWpsWpbMxsctI6vZPEZrruDAwa4X_QUhFvb_kExbShTMWzybM The government of Nigeria yesterday signed a contract with state-owned China Railway Construction Corporation Limited (CRCC) to build a major new railway linking the capital Abuja to the port city of Warri, a distance by air of approximately 440km.

The project is valued at $3.9bn, Nigerian media reported, adding that it would be a public-private partnership, with Nigeria providing an equity stake of 15%, CRCC an equity stake of 10%, and the remaining 75% borrowed from Cina’s Export-Import (Exim) Bank. 

The project includes the construction of a new port at Warri, reports said.

CRCC will operate the railway and the port to recover its investment.

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