CCECC Nigeria Ltd., a subsidiary of China Railway Construction Corp., kicked off construction of the Lagos-Ibadan double-track railway on March 7.
The project creates jobs for many young people, and will promote development in the region, said Yemi Osinbajo, acting president of Nigeria.
According to Li Jianhui, general manager of CCECC Nigeria Ltd., the project will create over 4,000 jobs, adding momentum to Nigeria’s economic revival by promoting the development of related industries and creating new tax opportunities.
The railway originates in Lagos, Nigeria’s largest port, and ends in Ibadan, capital of Oyo state. The railway, with a designed maximum speed of 150 kilometers per hour, will adopt Chinese standards. Construction of the $1.58 billion project will take three years. Once open, the railway will transport both passengers and cargo.