The Federal Government has
signed a memorandum of understanding (MOU) with China Civil Engineering
Construction Company (CCECC) for the construction of Lagos-Calabar rail
project.
Minister of Transport,
Rotimi Amechi, who signed the agreement on Friday, in Abuja, on behalf of the
Federal Government said, the first segment of the project is from Calabar to
Port Harcourt and it will be completed in two years.
Amechi stated that, the
second segment of the rail project is from Lagos to Ibadan and the project will
also be completed in two years.
According to the Minister,
“the contract was awarded by the Goodluck Jonathan administration for $11.974
billion, however the present administration reviewed the contract and the price
was reduced to $11.174 billion” he said.
He promised that, Federal
Government will fulfil its own side of the agreement and make available its
counterpart funds timely.
Responding, the president of
CCECC, Mr. Cao Baogang said, the project will impact positively in the
agricultural life of the country.
He revealed that, over 500
jobs will be created when the project is completed and Baogang assured that,
the company will meet up with the time frame of the contract.
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