Thursday, November 20, 2014

China Wins $12 Billion Contract To Build Rail Line In Nigeria

The China Railway Construction Corporation, the CRCC, has won a $12 billion contract to build a rail line from Lagos to Calabar. The project is expected to create about 200,000 local jobs which would help China "gain a foothold in resource-rich regions of Africa," according to the Daily Times published November 21, 2014. The project would also " lead to equipment exports from China worth $4 billion, including construction machinery, trains and steel products," the Daily Times revealed.
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