China and Nigeria sign a $13.1 billion rail deal - Executive Salad

China and Nigeria sign a $13.1 billion rail deal

On Monday the China Railway Construction Corp signed a $13.1 billion deal with the Nigerian Ministry of Transport to build a high-speed coastal railway in Nigeria, one of the largest foreign railway projects China has ever signed.

Under the contract, the company will build a 1,385-km single-track line for trains that will run at up to 120 km an hour. “The coastal railway will boost the export of Nigeria’s oil products. Additionally, as a significant part of the Western Africa railway network, it will also drive regional economic development,” said the head of the Railway Bureau of Nigeria.

Source:

http://english.people.com.cn/business/8623229.html

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