The China Railway Construction Corporation has disclosed that it has signed $1.851 billion contract to construct the Kano city light rail. The company also said it has received provisional letter of award from Nigeria to carry out the projects.
The receipt of the contract is valid for three weeks from the day of award, after which “uncertainties” will prevail. It further explained that the rail, with a total length of 74.3 kilometres, is expected to travel at a speed of 100 kilometres per hour.
According to the company, the first phase of the project construction is billed to take two years, while the second phase of the four-line rail is expected to take another two years.
“Project contract amount of approximately $ 1.851 billion, equivalent to approximately RMB 120.3 Billion, accounting for 2 percent of the Company’s 2015 revenue, under the China Accounting Standards,” the company stated.