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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
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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 Uber Technology Inc. is planning to launch its boat business in Lagos, Nigeria’s commercial capital and biggest city, to beat traffic congestion.
The ride-hailing service company is in talks with the Lagos state government and regulatory authorities to start Uber Boats services on its waterways, Uber’s Chief Business Officer Brooks Entwistle said Thursday in an interview. “We know the traffic is a priority and we think we can help there,” Entwistle said. “We are having fruitful good discussions with the regulators right now, it is what we are doing this week, we are meeting with partners.” The executive did not give a time line on when the service will begin… More details through: https://www.bloomberg.com/news/articles/2019-06-27/uber-plans-to-launch-boat-taxis-in-nigeria-s-biggest-city-lagos The Italian government on Tuesday announced its readiness to invest in Nigeria’s transportation sector. It also said it would concretise the move to bring Italian companies to Nigeria through the public private partnership platform.
The Italian Ambassador to Nigeria, Stefano Pontesilli, disclosed this when he led a delegation to the headquarters of the Federal Ministry of Transportation in Abuja. He was quoted in a statement issued by the Head, Press and Public Relations, FMOT, Mohammed Idris, as saying, “It is very important for us to have a high calibre of delegation in order to collaborate with the Nigerian government in the area of transportation.”… More details through: https://punchng.com/italy-set-to-invest-in-nigerias-transportation-sector/ The Federal Government has approved the sum of $2.3bn for the development of a coastal rail line that will run through coastal states in the country. It was gathered that of the sum, $1.8bn would come as a loan from China, while the Federal Government would provide $500m as counterpart fund…
More details through: https://punchng.com/fg-approves-2-3bn-for-coastal-rail-line-development/ |
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