China’s state-owned railway construction firm has been awarded a $1.85 billion contract to build a light railway line in Kano State, north of Nigeria.
The China Railway Construction Corporation Ltd issued a statement saying two of its subsidiaries had been provisionally awarded the light railway project in Kano.
“The contract amount of the project is approximately $1.851 billion, accounting for approximately 2 percent of the operating revenue of the company for the year 2015,” it said in the statement, issued to the Hong Kong stock exchange.
The contract is for four lines, totalling 74 km (46 miles) and capable of carrying trains travelling at a top speed of 100 km per hour.
“This award is subject to the fulfilment to all conditions spelled out in the letter of intent from the financing bank and the final approval by the presidency of Nigeria,” it said. A spokesman for the president declined to comment when contacted by Reuters.
A government source said contracts of this nature are usually passed to the cabinet for approval.
The company said it expected the first and second phases of construction to each last for two years, but did not give details of when work was expected to start if approved.
Source: Channels Television
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