China Signs $12 Billion Deal To Build Railway In Nigeria

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Nigeria and China signed an official building deal earlier today, to build a railway along the African country’s coast, China Railway Construction Corp. Ltd. (CRCC) said.

According to the CRCC the $11.97 billion contract is China’s single largest external contract project. The seaside 22-stop railway, which will stretch for 1,402 kilometers, will link Nigeria’s economic capital Lagos in the west with Calabar in the east.

China has radically stepped up its existence on the African continent in recent decades as it search for more resources and new markets for its economy. Trade between China and Nigeria was $13.6 billion last year.

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