The China Development Bank, CDB, has approved a loan of 245 million euros, $254.76 million, to support the construction of the Kano-Kaduna railway project in Nigeria.
A statement from the bank on Tuesday revealed that the loan was aimed at ensuring smooth financial backing for the successful continuation of the project.
Spanning a total length of 203 kilometers, the Kano-Kaduna railway is a standard-gauge track. Upon completion, it will establish direct rail links between Kano and Abuja.
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“This railway will also promote the development of related industries along the route. The construction and operation of the project will create numerous job opportunities in Nigeria.”
“The Kano-Kaduna railway project has been included in the list of practical cooperation projects for the Third Belt and Road Forum for International Cooperation,” the statement further noted.
The China Civil Engineering Construction Corporation, CCECC, is responsible for the construction of the project, with financial support from the CDB.
The CDB emphasized that in the next phase, it will collaborate closely with Nigerian authorities to ensure continuous loan disbursements and the effective management of the project’s completion.
Crediblenewsng.com
