The Federal Government on Saturday said the London based Standard Chattered Bank had agreed to fund the Lagos-Calabar coastal rail project to the tune of $11bn, according the TheNewsGuru.com, TNG.
The project was estimated to cost $14.4bn leaving the government with a balance of $3.4bn to complete the project.
This, according to TNG, was diclosed by the Minister of Transportation, Rotimi Amaechi in a statement on Saturday.
The report quoted Amaechi to have said that the proposed rail line, upon completion, would pass through Calabar, Uyo, Aba, Port Harcourt, Yenagoa, Otuoke, Ughelli, Warri, Sapele, Benin, Agbor, Asaba, Onitsha, Ore, Ijebu Ode, Sagamu and Lagos.
Read him: “London-based Standard Chartered Bank offers to fund the Lagos-Calabar coastal rail with $11bn of the $14.4bn needed to build the project.
“The railline will pass through Calabar, Uyo, Aba, Port Harcourt, Yenagoa, Otuoke, Ughelli, Warri, Sapele, Benin, Agbor, Asaba, Onitsha, Ore, Ijebu Ode, Sagamu and Lagos!”
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