President Muhammadu Buhari says the Port Harcourt-Maiduguri
rail line will revive the once-vibrant eastern railway corridor.
Speaking at the virtual ground-breaking ceremony of three
projects; the rehabilitation and reconstruction of Port Harcourt-Maiduguri
eastern narrow gauge railway project, Bonny deep seaport and railway industrial
park in Port Harcourt.
In a statement by Femi Adesina, special adviser on media and
publicity to the president, Buhari said the country’s aspiration for nationwide
transport infrastructure and railways would be significantly enhanced by these
three projects.
He noted that the Port Harcourt to Maiduguri railway
reconstruction project with new branch lines to Owerri, Imo state and Damaturu,
Yobe state will raise the country’s economy to the world stage.
“The connection of the railway to a new seaport in Bonny
Island and railway industrial park, Port Harcourt is designed to increase the
viability and boost trans-shipment of cargo and freight locally, across the
West African sub-region and in the continental free trade area,” Buhari said.
“The sum of the socio-economic and environmental benefits of
these projects includes the creation of massive employment locally.
“In addition, there will be further utilisation of local
contents and technology transfer, increase in internally generated revenue and
would serve as a fulcrum for the achievement of the federal government planned
integrated development masterplan.
“The funding of the railway is through a loan to fund 85%
project cost and the federal government contribution of 15% as counterpart
funding.”
He also said the Bonny deep seaport and the railway
industrial park are to be constructed through direct investments from Chinese
partners and international financing agencies.
Buhari further urged industrialists, manufacturers and
businesses to take advantage of the infrastructure in planning for expansion
and building new factories as the project when completed.
In his remarks, Rotimi Amaechi, minister of transportation said the three projects are being developed through direct investment by China Civil Engineering Construction Company (CCECC) Nigeria Limited with a total investment portfolio of $700 million.
He added that upon completion, trains on the Port
Harcourt-Maiduguri rail line will run at 60-80 kilometres per hour and 80-100
kilometres per hour for freight and passenger respectively.
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