Lagos and Calabar to get Railway - Contract won by Chinese Company

A Chinese company, China Railway Construction Corporation, has won a contract worth $11.97bn to construct a 1,402kilometres railway between two Nigerian states, Lagos and Calabar.

Reports according to Xinhua, a Chinese newspaper, on Thursday said the 22-stop railway, which would create up to 200,000 local jobs, is China’s single largest overseas contract project, as confirmed by the construction company.

“The project will create up to 200,000 local jobs, directly or indirectly. Up to 30,000 fixed job posts may also be provided when the railway is operational,” Fengchao said

According to the company, trains would be able travel at a top speed of 120 km per hour. China is pushing to win railway construction projects around the world as part of plans to export its high-speed technology and lift its manufacturing sector up the value chain.

Punch News: http://www.punchng.com/business/chinese-firm-wins-nigerias-11-97bn-railway-construction-deal/