rotimi amaechi ameachi
Business

FG’ll no longer depend only on Chinese loans to fund rail projects –Amaechi

The Federal Government is negotiating a mix of loans from Chinese and European lenders to fund the various railway projects in the country, Minister of Transportation, Rotimi Amaechi said on Friday. Amaechi said Standard Chartered had agreed to fund $3.02 billion for the ongoing Port Harcourt-to-Maiduguri railway project.

 

He had previously told Bloomberg that the government was in talks with Standard Chartered Plc to replace earlier plans to get loans from Chinese banks for two rail projects.

 

But Amaechi said they had always been seeking funding from any source available. “We are waiting for the Chinese for only Ibadan-to-Kano” railway, he said, adding, “If the Chinese don’t turn up in the next few months, why shouldn’t we approach the European banks to fund Ibadan to Kano? I will put that before the minister of finance.”

 

The Minister who spoke during a media chat organised by the Presidential Communication team on Friday, also said that the government also expects Credit Suisse to fund the Kano-to-Maradi line, which will connect northern states Kano, Jigawa and Katsina.

 

This came as the Minister has disclosed that the Kaduna-Kano rail would be inugurated in the next two weeks, adding that while the Federal Government is waiting for the Chinese loan to come it will go ahead with the funding of the project from the Federal budget.

 

He disclosed that while government has already committed over $100 million into the project, the total loan governments needs fir the project is N100 billion.

He further said that the 300 Nigerians being trained in rail technology in China would soon complete their studies and will be absorbed by the Federal Ministery of Transportation.

 

TRY IT TONIGHT!!! ---

 

Abuja Civil Servant reveals (FREE) secret Fruits that Increased his Manh0d size, gives Stronger Erections and ends Premature Erection in 7days...

   

CLICK HERE FOR FULL DETAILS.

 

%d bloggers like this:
Fake Richard Mille Replica Watches, www.richardmille.to The ceramic upper and lower cases are imported from Taiwan and are processed by ATPT ceramics to form Y-TZP ceramics. After high-tech anti-fingerprint technology, they present a delicate and soft sub-black material. This color quality has remained unchanged for a hundred years. The color and luster are more detailed to achieve the ceramic tone visual pattern electroplating upper and lower shells that are infinitely close to the original products, with anti-reflective coating sapphire glass! The tape uses a soft and delicate Malaysian imported top rubber strap, and the movement is equipped with an imported Seiko NH movement. The buckle of this version is made according to the original size and thinness, making it feel more comfortable and intimate, the highest version on the market Richard Mille Replica