Canadian rail networks prepare for shut down
NewsAs Canada heads towards a nationwide rail strike CN and CPKC have stopped accepting certain cargo types as they prepare their Canadian networks for a full shutdown.
China to build port and railway link in Nigeria
The Nigerian Federal Government has signed a contract with China Railway Construction Corporation International (CRCCI) to build a new port at Warri – where the Nigerian Ports Authority completed a channel dredging project last year – and a 400 km rail link to the capital city Abuja
The project is worth a reported US$3.9B.
Nigerian media reported that CRCCI and the federal transport minister signed a contract on 10 October for a public-private partnership that includes a 30-year concession to build and operate both the rail line and the port.
The Nigerian Government is to fund 15% of the project, CRCCI 10%, and the remaining 75% will come as a loan from China’s EXIM bank. CRCCI is to repay the loan from operating revenue over the term of the concession.
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This complete item is approximately 150 words in length, and appeared in the October 2019 issue of WorldCargo News, on page 14. To access this issue download the PDF here
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