Gencos record N304bn payment shortfall in nine months – NERC report

    A Chinese company, Chinese Civil Engineering Construction Corporation, has handled the majority of railway projects in Nigeria worth over $25.51bn (N10.5tn)s, according to the United States-based Fitch Solutions’ latest report on Nigeria railway system.

    The report, titled ‘Nigeria Rail: Near-Term Focus On Northern Region With Long-Term Upside For Southern Projects’, said Chinese financing had supported CCECC to handle most rail projects in the country.

    The report, however, listed other companies that are major players in the Nigerian railway sector.

    The breakdown of the top rail projects handled by CCECC shows that the approved Lagos-Calabar coastal railway project covering 1402km was awarded to the Chinese company for $11.10bn.

    Also, the Abuja-Itakpe-Warri rail line project with a contract value of $3.90bn, sponsored by China Railway Construction Corporation and EXIM Bank of China, was awarded to CCECC, Julius Berger and Sinohydro Corporation, another Chinese company, alongside General Electric. The project is still at the planning stage.

    Also at the planning stage is a 334km Ogun intercity railway line with a contract value estimated at $3.51bn. The project is scheduled to be handled by CCECC.


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