The Kano State government has awarded a $1.85 billion light railway project to two subsidiary companies of the China Railway Construction Corporation Ltd.
This is contained in a statement issued by the China’s state owned railway construction firm, issued to the Hong Kong stock exchange.
“The contract amount of the project is approximately $1.851 billion, accounting for approximately 2 percent of the operating revenue of the company for the year 2015,” the statement reads.
The contract is for four lines, totaling 74 km (46 miles) and capable of carrying trains travelling at a top speed of 100 km per hour.
The statement further added that “This award is subject to the fulfillment to all conditions spelled out in the letter of intent from the financing bank and the final approval by the presidency of Nigeria.”
The company said it expected the first and second phases of construction to each last for two years, but did not give details of when work was expected to start if approved.