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The Federal Government will deploy 350 wagons and 36 coaches on the Lagos-Ibadan rail line and will increase the frequency of free train rides on the route from December 21, 2019.
According to the Managing Director of Nigeria Railway Corporation, Fidet Okhiria, the Federal Government had also concluded arrangements to connect the already constructed Warri-Itakpe railway to the Abuja-Kaduna line… More details through: https://punchng.com/lagos-ibadan-railway-fg-to-deploy-350-wagons-36-coaches/
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Minister of Transportation, Rotimi Amaechi has signed a Memorandum of Understanding (MoU) with two Russian firms for the modernisation and development of railway infrastructure.
The MoU also covers the rehabilitation of existing Nigerian Railway Corporation (NRC) rolling stock-fleet and upgrading of workshops across the country. Mr Israel Ibeleme, the media aid to the Minister disclosed this in a statement on Thursday in Abuja. The two Russian firms are Joint Stock Company Russian Railway (JSCRR) and Transmash Holding, a private rolling stock manufacturing company. https://www.pulse.ng/news/local/amaechi-signs-mou-on-rail-modernisation-with-2-russian-firms/g0wvq69 The Russian Government has agreed to support development of Nigeria’s rail infrastructure by constructing 1,400 kilometres track from Lagos to the South-South city of Calabar.
According to Malam Garba Shehu, the Senior Special Assistant to the President on Media and Publicity, in a statement in Abuja, said this development was one of the agreements reached at a meeting between President Muhammadu Buhari and the Russian President, Vladimir Putin. The bilateral meeting was held on sidelines of ongoing Russia-Africa Summit, in Sochi, Russia, on Wednesday. Shehu disclosed that there was also discussion on the advancement of ongoing project for the establishment of a nuclear power plant in Nigeria. https://tribuneonlineng.com/russia-to-support-construction-of-1400km-rail-track-from-lagos-to-calabar-%E2%80%95-presidency/ The Federal Government of Nigeria has entered into a Public-Private Partnership agreement with China Railway Construction Corporation Limited (CRCC) to build a new standard railway track from Abuja to Itakpe.
The contract also covers the construction of the Warri seaport. Under the terms of the contract, the FG will take 15 percent equity in the project while the CRCC will take 10 percent equity. The remaining 75 percent will be sourced from Chinese Banks to execute the project… More details through: https://www.dailytrust.com.ng/fg-crcc-sign-3-9bn-abuja-itakpe-rail-warri-port-contracts.html Pan-African electronic logistics company, Lori, has announced its expansion to Nigeria in a bid to extend its footprint across Africa.
This is coming 10 months after the company completed a successful pilot in Nigeria with some top cargo companies including Olam, Honeywell Flour Mills, and Flour Mills Nigeria, the company said in a statement by the company on Tuesday… More details through: https://punchng.com/pan-african-e-logistics-firm-begins-operation-in-nigeria/ The Federal Government has given approval for the construction of $5.3bn Ibadan-Kano standard gauge rail line.
Minister of Transportation, Rotimi Amaechi, disclosed this on Thursday at the third Maritime Stakeholders’ Interactive Forum. “Just yesterday, we got the approval to complete the $5.3bn Ibadan to Kano rail project. We have also applied for funding to commence a coastal rail for the Port Harcourt to Warri segment,” … More details through: https://punchng.com/fg-approves-5-3bn-ibadan-kano-rail-project/ In a bid to boost its operations at the Port and Cargo Terminal at the Tin Can Island Port, the Sifax Group has announced that it has acquired four cranes valued at €18million (N7.2billion).
The Group Managing Director of Sifax Group, Mr. Adekunle Oyinloye, who disclosed this while reeling out the company’s five-year Strategic Growth Plan in a chat with newsmen in Lagos, said the company would continue to invest in the country to ensure Nigeria regains its status as the hub of port operations in West Africa… More details through: https://www.thisdaylive.com/index.php/2019/08/30/sifax-acquires-four-cranes-worth-e18m-diversify-business/ Until a year ago, Friday Ighodaro spent three or four nights a month getting pulled out of his 30- tonne Steyr truck on the unlit highways of rural Nigeria by armed robbers. They know that long- haul truckers carry cash advances for provisions along the way, he said. “Nowadays in Nigeria when you carry money, it’s very dangerous,” he said. Bandits prowl the roads across the country, “but now when they stop you on the road when they see the Honeywell sign, they know we don’t carry cash.”
Mr. Ighodaro is an owner-operator who hauls grain to every corner of Nigeria for Honeywell Flour Mills and other clients of Kobo360, a 20-month-old start-up which announced earlier this month that it had raised $30m in debt and equity in a funding round led by Goldman Sachs… More details through: https://businessday.ng/technology/article/tech-start-ups-drive-change-for-nigerian-truckers/ NIGERIA’s oldest surviving and largest conglomerate, UAC of Nigeria (UACN) Plc and South African leading logistics provider, Imperial Logistics Limited have entered into a share acquisition agreement that will see Imperial Logistics acquiring the controlling equity stake in MDS Logistics Limited, a subsidiary of UACN.
Under the agreement, Imperial Logistics will acquire an additional 8.0 percent shareholding in MDS Logistics from UACN to increase Imperial Logistics’ equity stake from 49 percent to 57 percent. The transaction valued MDS at $40 million, about N12.24 billion… More details through: https://thenationonlineng.net/uacn-imperial-logistics-seal-40m-shares-acquisition-deal/ The federal government has ordered massive rolling stock ahead of the commencement of commercial operation on the Lagos-Ibadan standard gauge project. The rolling stock comprises 30 engines, 63 coaches and 200 wagons.
The chairman of the Nigerian Railway Corporation (NRC), Engr. Ibrahim Alhassan, disclosed this on Thursday when he led 24 other members of the corporation on an inspection of the 156-kilometer project… More details through: https://www.dailytrust.com.ng/fg-orders-200-wagons-63-coaches-others-for-lagos-ibadan-rail.html |
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