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Chinese Bank Approves $254.76m Loan for Kano-Kaduna Railway Project
By Kabir Abdulsalam
The China Development Bank (CDB) has approved a 245 million euro ($254.76 million) loan to support the construction of the Kano-Kaduna railway project in Nigeria.
According to a statement released by the bank on Tuesday, the loan aims to provide necessary financial backing for the project’s timely completion.
The funding is expected to facilitate the development of Nigeria’s rail network, promoting economic growth and connectivity between key cities.
The Kano-Kaduna railway, with a total length of 203 kilometres, is a standard-gauge railway. Once completed, it will provide direct connectivity between Kano and Abuja.
The statement read in part: “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 project is being constructed by the China Civil Engineering Construction Corporation (CCECC) with financing support provided by the CDB.
The CDB stated that in the next phase, it will work closely with the Nigerian side to ensure the continued disbursement of loans and effectively manage the completion of the work.
Once completed, the railway will offer residents a safe, efficient, and convenient transportation alternative, significantly enhancing regional connectivity.
Beyond improved mobility, the railway project is poised to stimulate economic activity along its route. It is expected to promote the growth of related industries and generate numerous job opportunities for Nigerians during both the construction and operational phases.
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