The Federal Government has signed a contract agreement with the China Civil Engineering Construction Corporation (CCECC) on the construction of the Lagos-Calabar Coastal Railway project.
The Minister of Transportation, Rt. Hon. Chibuike 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.
The immediate past government has awarded the project to CCECC at a contract sum of $11.917 billion disclosing that at the inception of President Muhammadu Buhari Administration, the Federal Government renegotiated the contract with the Management of CCECC and agreed at a contract sum of $11.117 billion thereby saving a whooping sum of $800million.