As part of President Goodluck Jonathan’s transformation agenda, the Federal Government yesterday in Abuja, commissioned the Abuja (Idu)-Kaduna Standard Gauge Railway Modernisation Project costing $874.308 million (about N136.392 billion) Vice President, Arch. Lamadi Sambo, who performed the track laying ceremony at the Idu Abuja terminal station, disclosed that the Federal Ministry of Finance had already successfully sourced a concessionary loan of $500 million from the Chinese government to bankroll the railway line project. Speaking further, the vice president noted that in order to ensure the completion of the railway modernisation project on schedule, the federal government has approved and directed the intervention of Subsidy Re-investment Programme (SURE-P) to complement the envisaged financial gap to meet the counterpart funding of the project. “Arising from the segmentation of the projects as highlighted, federal government had signed the contracts for Abuja (Idu)-Kaduna in December, 2010, in the sum of $874,308,704.00 with a completion period of 36 months and that of Lagos- Ibadan in August, 2012 in the sum of $1,487,782,196 with a completion period of 48 months respectively. “Furthermore, the Federation Ministry of Finance has successfully negotiated and secure a concessionary loan of $500 million from the Chinese government to part finance the Abuja (Idu) – Kaduna segment. I’m happy that SURE-P intervention is making positive impact. The administration is considering the concessioning of the railway facilities to private operators on completion and it transform to a world class status,” he noted. Speaking earlier, Minister of Transport, Senator Idris Umar, had described the commission as a significant milestone in the execution of the laudable project and the determination of the federal government to deliver the project on schedule, announcing that the overall physical completion level is 68 per cent. “Permit me to give you a highlight on the status of the Abuja-Kaduna railway modernisation project so far. Earthworks for the project is 92 percent completed, hydraulic structures (concrete drains and culvets) have attained 87 completion. “Out of the 24 railway bridges to be constructed, 17 have been completed to structure level while substructure work on the remaining seven are at various levels of completion. Four out of five box bridges have been completed while the remaining one is ongoing. “187 out of the 348 precast T-beans for the bridges have been produced from which 52 have been successfully installed. One out of 25 overpass bridges has been completed while works on the remaining 24 are at various stages of completion. The overall physical completion level so far for the project is 68 percent,” he explained.
Posted on: Sat, 06 Jul 2013 23:18:02 +0000
Trending Topics
Recently Viewed Topics
© 2015