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.