See How Nigeria Will Get 3.6 Trillion Naira For Speed Rail Projects
Nigeria has been bullish on railway projects for some time now.
Although much of the projects are yet to be completed, it is hoped that by the end of this year, Nigeria’s rail infrastructure will begin to take shape.
Already, billions of dollars have been borrowed, especially from China to build standard gauge rail lines.
And now, the government is about raising another funding of $10 billion, about 3.6 trillion naira from an American investor to build speed rail.
The American investor, Ameri Metro Incorporation, on Monday said it is ready to provide the $10 billion for the construction of speed rails in Nigeria.
The firm told the Federal Government that it had the capacity to fund rail projects across the country while making a presentation at the headquarters of the Federal Ministry of Transportation in Abuja.
Officials of the firm, who were hosted by Minister of Transportation, Rotimi Amaechi, stated that they decided to show interest in the rail projects after it was confirmed that the Chinese group that was initially billed to handle them would not be able to deliver on the projects as planned.
Speaking after a meeting with officials of the Federal Government, the Founder, Ameri Metro Inc., Shah Mathias, said: “We are in the design process and our goal is to take this and build it. We are here to do the presentation for the high-speed rail.
“Our goal is to build the rail system in order for other industries to come. We will like to commence the project as soon as we are given the opportunity, and we will invest 100% of the project cost.
“We have been told that the project cost is over $10 billion and we are ready to deliver new railway, new locomotives, everything will be new.”
Also Watch: Irewe: Behind The Lagos Mega City