China Railway Construction Corporation has won a $1.851 billion contract to construct the Kano City light rail.
The company said it has received a provisional letter of award from Nigeria for the 74.3 kilometers rail track.
The first phase of the project construction is billed to take two years, while the second phase of the four-line rail is expected to take another two years.
The contract amounted to approximately $1.851 billion (equivalent to RMB 120.3 Billion), accounting for two per cent of the Company’s 2015 revenue, under the China Accounting Standards.
Nigeria is investing heavily in capital projects, building infrastructure, and replacing half-a-century old rail lines, in the country.