FG Secures $254.76m Chinese Bank Loan dor Kano-Kaduna Railway

The Federal government has secured 245 million euros ($254.76 million) for the construction of the Kano-Kaduna railway project in Nigeria after the China Development Bank (CDB) granted approvals.

With a total length of 203 km, the Kano-Kaduna railway is standard gauge. Upon completion, Kano and Abuja will have direct rail communication.

The action was made to give financial support for the project’s smooth progress, according to a statement released by the bank on Tuesday.

“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 partly said.

With financial assistance from the CDB, the China Civil Engineering Construction Corporation (CCECC) is building the project.

According to the CDB, it will collaborate closely with the Nigerian side in the upcoming phase to guarantee the loans’ continuous disbursement and efficiently oversee the work’s completion.