President Muhammadu Buhari will be in South Africa on Thursday to participate in the Forum on China/Africa Cooperation (FOCAC) which would hold in Johannesburg on December 4 and 5.
In a statement, the Senior Special Assistant to the President on Media and Publicity, Garba Shehu, said that Mr Buhari, at the forum would follow up his meeting with the Chinese Leader Xi Jinping which took place in New York on the sidelines of the United Nations General Assembly meeting in November.
“President Buhari had indicated to Xi Jinping, the Chinese leader at the bilateral meeting in New York, that he wanted China to re-commence stalled rail projects under new terms that would see China providing nearly all the financing required.
“Of particular interest is the coastal railway project stretching for 1402 kilometers linking Lagos in the West with Calabar in the East; a project that is expected to be financed with 12 billion U.S Dollars Chinese loan and which will create about 200,000 jobs.
“Another rail project that will be up for renegotiation is the 8.3 billion Dollars Lagos-Kano standard gauge modernisation project, of which only a segment, Kaduna-Abuja has reached completion stage”, the statement read.
Credit: ChannelsTV
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