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Tuesday, May 13, 2014

GoodNews: China Railway Unit Signs $16.3billion High-Speed Railway Contract With Nigeria

 Sorry for not been able to post any news this few days, I just got tired of all the negative stories happening around here.

Over two hundred girls are still held captive by the Boko Haram terrorist group, a video showing the abducted girls was released yesterday and the sect are demanding the release of their imprisoned members for the girls, the Borno State Governor has hinted he knows where the girls are been held-he got the intel!!! . And finaly the World Economic Summit that was held here in Nigeria was quite a success atleast I got to stay at home for 5 days.lol, just kidding.

So away from all the bad news, the China Railway Construction Corp has signed a US$13.1 billion (S$16.3 billion) deal to build a high-speed railway in Nigeria, as China’s pushes to develop fast rail and other infrastructure projects on the continent.

China Railway unit China Civil Engineering Construction Corporation signed the contract with the Nigerian government on Monday, according to a filing to the Hong Kong bourse on Tuesday evening.

Under the contract, the state-backed Chinese company will build a railway with a single track length of 1,385 kilometres (860 miles) and a speed of 120 kilometres per hour. The filing gave no details about where the line would be built.

The announcement came as Chinese Premier Li Keqiang, during a visit to Ethiopia, unveiled extra aid for Africa totalling at least US$12 billion and offered to share advance technology with the continent to help with development of high-speed rail, state media reported.

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