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News

Nigeria signs a $3.9 billion railway contract with Chinese companies

  • Author:Arya Ren
  • Release on :2019-10-25

Nigeria signs a $3.9 billion railway contract with Chinese companies

According to the Nigerian "Daily News" reported on October 11, Nigeria has signed a $3.9 billion public-private partnership agreement with China Railway Construction Co., Ltd. to build the Abuja-Ittape Railway and Port of Warri.

According to the agreement, the Nigerian government will contribute 15%, China Railway Construction will contribute 10%, and the remaining 75% will be financed from Chinese banks.

China Railway Construction will be responsible for the construction and operation of the railway and seaport, capital recovery and debt repayment, and will transfer the project to Nigeria 30 years later.

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