FG Signs $3.9bn Deal With Chinese Firm For Abuja-itakpe Railway Construction - Politics - Nairaland
Nairaland Forum / Nairaland / General / Politics / FG Signs $3.9bn Deal With Chinese Firm For Abuja-itakpe Railway Construction (16063 Views)
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| FG Signs $3.9bn Deal With Chinese Firm For Abuja-itakpe Railway Construction by doris00: 5:40pm On Oct 10, 2019 |
The federal government on Thursday, October 10, signed a deal of $3.9 billion with China Railway Construction Corporation (CRCC) for the construction of the Abuja-Itakpe railway. The Chinese firm, according to Rotimi Amaechi, the minister of transportation, will also handle the construction of a seaport in Warri, Delta state, Daily Trust reports. S :Ppeaking in Abuja during the signing ceremony, Amaechi said that the Public-Private Partnership (PPP) agreement states that Nigeria will take care of 15% of the cost, while CRCC will handle 10% of it. The minister also stated that the remaining 75% will be borrowed by the Special Purpose Vehicle (SPV) which the federal government will pay back in a period of 30 years after which it will take back ownership of the assets. He said: “We will give them a sovereign guarantee and they will give us a performance bond that protects our sovereign guarantee When they finish construction, they will manage for 30 years. “The entire railway for now in Nigeria is constructed 100 by CRCC. I think that the good working relationship we have had with CRCC is the reason we have not been able to engage other companies.” https://thickmatch.com/fg-signs-3-9bn-deal-chinese-firm-abuja-itakpe-railway-construction/ 10 Likes 3 Shares
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| Re: FG Signs $3.9bn Deal With Chinese Firm For Abuja-itakpe Railway Construction by doris00: 5:40pm On Oct 10, 2019 |
doris00: |
| Re: FG Signs $3.9bn Deal With Chinese Firm For Abuja-itakpe Railway Construction by Dreal1247: 5:44pm On Oct 10, 2019 |
I'm really afraid of business dealings with China. I'm not sure if Nigeria will survive all these business dealings with China. They cut your nose to spite your face. 26 Likes 1 Share |
| Re: FG Signs $3.9bn Deal With Chinese Firm For Abuja-itakpe Railway Construction by Mcreloaded(m): 5:48pm On Oct 10, 2019 |
The Chinese firm, according to Rotimi Amaechi, the minister of transportation, will also handle the construction of a seaport in Warri, Delta state, Daily Trust reports. S :Ppeaking in Abuja during the signing ceremony, According to the bolded, hope they have checked the depth of the sea so we wont start hearing stories of how the sea port is not deep enough because of sand that it will require dredging every month for ships to dock 15 Likes 2 Shares |
| Re: FG Signs $3.9bn Deal With Chinese Firm For Abuja-itakpe Railway Construction by Sunofgod(m): 5:50pm On Oct 10, 2019 |
China go toll delta badly....for 30 years. 1 Like 3 Shares |
| Re: FG Signs $3.9bn Deal With Chinese Firm For Abuja-itakpe Railway Construction by Nobody: 5:51pm On Oct 10, 2019 |
they should sell Nigeria to China 12 Likes |
| Re: FG Signs $3.9bn Deal With Chinese Firm For Abuja-itakpe Railway Construction by 35824L: 5:51pm On Oct 10, 2019 |
This is a very welcome development. It will totally link Warri to Kaduna, then Kano later. The coastal rail from Lagos to Calabar is another exciting prospect. Amechi is a workaholic. 32 Likes 2 Shares |
| Re: FG Signs $3.9bn Deal With Chinese Firm For Abuja-itakpe Railway Construction by 35824L: 5:55pm On Oct 10, 2019 |
Dreal1247:China is cheaper and less stringent than the west. Their conditions for loans will never include gay marriage, IMF austerity or stakes in oil Wells. 66 Likes 8 Shares |
| Re: FG Signs $3.9bn Deal With Chinese Firm For Abuja-itakpe Railway Construction by Blue3k(m): 6:10pm On Oct 10, 2019 |
Amaechi need to plan a north south rail line for Ibom seaport. He's doing it for the others. The coastal line us cool but the north south is best for port efficiency.. 3 Likes 1 Share |
| Re: FG Signs $3.9bn Deal With Chinese Firm For Abuja-itakpe Railway Construction by rohaan: 6:17pm On Oct 10, 2019 |
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| Re: FG Signs $3.9bn Deal With Chinese Firm For Abuja-itakpe Railway Construction by EzekaUdenee: 6:19pm On Oct 10, 2019 |
[s] 35824L:[/s] 2 Likes 3 Shares |
| Re: FG Signs $3.9bn Deal With Chinese Firm For Abuja-itakpe Railway Construction by EzekaUdenee: 6:23pm On Oct 10, 2019 |
[s] 35824L:[/s] |
| Re: FG Signs $3.9bn Deal With Chinese Firm For Abuja-itakpe Railway Construction by Nobody: 6:23pm On Oct 10, 2019 |
More good news. |
| Re: FG Signs $3.9bn Deal With Chinese Firm For Abuja-itakpe Railway Construction by EzekaUdenee: 6:40pm On Oct 10, 2019 |
[s] 35824L:[/s] 4 Likes 1 Share |
| Re: FG Signs $3.9bn Deal With Chinese Firm For Abuja-itakpe Railway Construction by Jimi24: 6:45pm On Oct 10, 2019 |
Blue3k: There is PH-Maiduguri which is too costly and should not be attempted now for security and loan re payment ability 3 Likes |
| Re: FG Signs $3.9bn Deal With Chinese Firm For Abuja-itakpe Railway Construction by Blue3k(m): 6:50pm On Oct 10, 2019 |
Jimi24: Ph-Maidugari doesn't go to Akwa Ibom. They were planning on doing it but G.E pulled out. It's still going to be concessioned. Besides it's better to start process now than later. The rail line will take 5 years to complete. 6 Likes |
| Re: FG Signs $3.9bn Deal With Chinese Firm For Abuja-itakpe Railway Construction by jahsharon: 6:54pm On Oct 10, 2019 |
Dreal1247: Nigeria is too big for any country to mess with. Both countries will lose massively. 10 Likes 1 Share |
| Re: FG Signs $3.9bn Deal With Chinese Firm For Abuja-itakpe Railway Construction by ZombieTAMER: 6:56pm On Oct 10, 2019 |
Dreal1247: With this rate China will own Nigeria in five decades time 3 Likes 2 Shares |
| Re: FG Signs $3.9bn Deal With Chinese Firm For Abuja-itakpe Railway Construction by ZombieTAMER: 6:57pm On Oct 10, 2019 |
jahsharon: You don't know what you saying There is no big country when it comes to debt 9 Likes 2 Shares |
| Re: FG Signs $3.9bn Deal With Chinese Firm For Abuja-itakpe Railway Construction by SenecaTheYonger: 8:40pm On Oct 10, 2019 |
Literally selling this country to the Chinese. 4 Likes |
| Re: FG Signs $3.9bn Deal With Chinese Firm For Abuja-itakpe Railway Construction by obi4eze(m): 8:40pm On Oct 10, 2019 |
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| Re: FG Signs $3.9bn Deal With Chinese Firm For Abuja-itakpe Railway Construction by VivyZub(f): 8:41pm On Oct 10, 2019 |
Check my signature people! 2 Likes 2 Shares |
| Re: FG Signs $3.9bn Deal With Chinese Firm For Abuja-itakpe Railway Construction by Buliwyf: 8:41pm On Oct 10, 2019 |
35824L: You are very ignorant. So you don't know China's operation is even worse than that? Lol. You have never heard of debt-trap diplomacy? 11 Likes 3 Shares |
| Re: FG Signs $3.9bn Deal With Chinese Firm For Abuja-itakpe Railway Construction by PheelzAlmighty: 8:41pm On Oct 10, 2019 |
Aloota continua  1 Like 2 Shares |
| Re: FG Signs $3.9bn Deal With Chinese Firm For Abuja-itakpe Railway Construction by Nobody: 8:41pm On Oct 10, 2019 |
Non productive. |
| Re: FG Signs $3.9bn Deal With Chinese Firm For Abuja-itakpe Railway Construction by MobilityExpress: 8:42pm On Oct 10, 2019 |
$3.9b for how many kilometers of rail? Las las, na 1996 second hand train dey will still buy on top. Too much scam for this country. They have turned rail projects to another cash cow. Otherwise with $3.9b they should be able to build rails for the whole North  11 Likes 1 Share |
| Re: FG Signs $3.9bn Deal With Chinese Firm For Abuja-itakpe Railway Construction by akdjr(m): 8:42pm On Oct 10, 2019 |
And the money never reach Deizeni loot or Abacha loot. |
| Re: FG Signs $3.9bn Deal With Chinese Firm For Abuja-itakpe Railway Construction by Lanre4uonly(m): 8:43pm On Oct 10, 2019 |
Ok. It is noted. |
| Re: FG Signs $3.9bn Deal With Chinese Firm For Abuja-itakpe Railway Construction by Baroba(m): 8:43pm On Oct 10, 2019 |
SenecaTheYonger: Yup, incurring debt for future generation, the likes of Amechi and his colleagues in government will not be here to face the consequences 30 years from now.. 10 Likes 2 Shares |
| Re: FG Signs $3.9bn Deal With Chinese Firm For Abuja-itakpe Railway Construction by solmusdesigns: 8:43pm On Oct 10, 2019 |
 ameachi would soon become the richest politician in Nigeria .. 4 Likes |
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