The Federal Government, yesterday, signed $6.68 billion contract agreement for the Ibadan-Kaduna segment of the Lagos-Kano rail line with China Civil Engineering Construction Corporation (CCECC).
The information was in a statement by Mrs. Yetunde Sonaike, the Director, Press, Federal Ministry of Transportation in Abuja.
Sonaike stated that the Minister of Transportation, Mr. Rotimi Amaechi, signed the contract and said the agreement was for the implementation of Addendum no. 4, indicating the Ibadan-Kaduna segment of the Lagos-Kano rail line.
“This agreement is for the Ibadan-Kaduna rail line, which is part of the Lagos-Kano rail line, the completion time of the contract should be between two and three years, depending on availability of funds,” Amaechi was quoted.
The minister promised that the ministry would be able to provide its counterpart funding between 2018 and 2019 budget provision, stating that the contract was a fulfilment of Federal Government’s plan to complete the Lagos-Kano rail modernisation project.