The Minister of Transportation, ROTIMI AMAECHI who signed on behalf of the Federal Government of Nigeria, said the contract is an addendum to the Lagos-Calabar Coastal Railway project which was initially awarded by the former President Goodluck Jonathan’s administration.
AMAECHI said the Federal Government renegotiated the contract with the Management of CCECC thereby saving the sum of eight hundred million dollars.
He reiterated that the Federal Government has completed the signing of the same contract with a different contract sum in order to legalize the new deal.
The Minister further said part of the contract agreement with CCECC is to expedite action and conclude arrangement with the China-Exim Bank to facilitate the commencement of work on the Railway project noting that his desire and expectation is the completion of the project in two years.
On the funding of the project, the Minister assured that funding would not pose any hindrance to the commencement and final completion of the Lagos-Calabar Coastal Railway project.
Speaking after the signing of the Contract agreement on behalf of CCECC, President of the construction giant, CAO BAOGANG expressed appreciation to the Federal Government of Nigeria and promised that the Company would not let the nation down and delivered on target.
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