Abuja Rail Project: +570 Billion Naira Given To Chinese Firm
Will our rail system ever come alive with the billions splashed in by various administrations? Here we go again!
The Federal Capital Territory Administration, FCTA, has entered into a second agreement with China Civil Engineering Construction Corporation, CCECC for the second implementation of the Abuja rail mass transit.
The agreement was officially announced by CCECC at the Honk Kong Exchange and Clearing Systems Limited and the Stock Exchange of Hong Kong on Thursday.
The contract is the second phase of the Agreement reached on 25 May 2007 at a consideration of $841 million, about 320 billion Naira.
The first implementation contract (Abuja Rail Mass Transit Phase I) worth US$823 million was entered into on 24 August 2012.
According to the announcement, “For the signed phase II construction of Abuja rail mass transit, the total length of the rail mass transit is 32.535 km with a maximum designed operation speed of 100km/h, and the construction period is 54 months – 4 and half years.
“The project contract amount is approximately US$1.473 billion, about 570 billion Naira. The agreement covers supply of Rolling Stocks and Depot Equipment for Phase One and Abuja Rail Mass Transit Agreement for Services for Operation of Phase One at the same time.
“The major content of the agreement for supply of equipment is supply of 12 sets of rolling stocks, equipment for depot and three-year maintenance service for rolling stocks; the services for operation and management include a preparation period of five months and a formal operation period of 36 months.”