The Minister of Transportation, Mr Rotimi Amaechi has said the concession of the country’s railway would attract $3 billion investment to the Nigeria.
The minister who disclosed this while receiving the Senate and House of Representatives Committees on Land Transport in his office in Abuja, gave the lawmakers a brief of progress so far made by the Ministry.
Amaechi informed both committees that the federal government had signed the contract for the construction of Calabar- Port Harcourt, with extension from Port Harcourt- Onne deep sea Port which is Segment 1 of the coastal railway projects, stemming from Lagos to Calabar, with a branch line Benin City to Onitsha Bridge Station.
He stated that Warri-Ajaokuta-Baro-Abuja central railways had been properly placed on the path of Public Private Partnership platform, adding that a Memorandum of Understanding had also been signed with China Railway Construction Corporation, CRCC.
“When this arrangement comes through after being subjected to the Infrastructure Concession Regulatory Commission, CRCC, evaluation and due process, it will draw a minimum of US $3billion investment in Nigeria,” he said.