Chinese Bank Approves $254.76m Loan For 203KM Kano-Kaduna Railway

The China Development Bank (CDB) has granted a loan of 245 million euros ($254.76 million) for the construction of the Kano-Kaduna railway project in Nigeria.

The bank said in a statement on Tuesday that the decision was to help with the project’s smooth progress.

The Kano-Kaduna railway, with a total length of 203 kilometres, is a standard-gauge railway. Once completed, it will provide direct rail connectivity between Kano and Abuja.

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Along the way, this railroad will also encourage the growth of related industries. Numerous job opportunities will be created in Nigeria as a result of the project’s construction and operation.

The Third Belt and Road Forum for International Cooperation’s list of practical cooperation projects includes the Kano-Kaduna railway project, according to a statement that was partially quoted.

The CDB provides funding for the project, and the China Civil Engineering Construction Corporation (CCECC) is the contractor.

Source: Channels TV