US $3.9bn FOR CONSTRUCTION OF ABUJA-ITAKPE RAILWAY.
Minister of Transportation Rotimi Amaechi signs a US $3.9bn deal with China Railway Construction Corporation (CRCC) for construction of Abuja-Itakpe railway. The public private partnership will consist of 15% Nigerian equity, 10% CRCC equity and 75% borrowed SPV from the Chinese Bank. “The signing ceremony that we had today is the first PPP (Public Private Partnership) railway agreement for Abuja-Itakpe or Abuja-Baru-Itakpe and Lokoja. Part of the agreement is that CRCC will provide us with…
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