KANO- Governor Abdullahi Umar Ganduje has said that the Kano light rail is awaiting the approval of the federal government for the takeoff of its proposed Light Rail Train project.
Already Kano state government and a China Railway Company Group, CR18G-CRECG last month signed a multi million naira project.
Briefing Reporters on the outcome of three weeks sojourn to China and Saudi Arabia during the State Council Meeting Thursday Governor Ganduje said “it was successful trip “.
Ganduje said “as you are aware i led a delegation that met with the Chinese company at its headquarters and discussed the projects extensively, and I’m glad the outcome was very successful.”
Ganduje
The governor revealed that CR18G-CRECG has took the delegates to inspects some of it rail works in some part of the country especially a project at Tianjin City.
He added that during the visit, he met with officials of Bank of China, China Import and Export Bank and China Development Bank (CDB), noting that CDB is to provide 85 percent of the project with 3 percent as interest.
The governor further explained that If the loan is to be sourced from Nigerian Banks, the interest rate would reach about 15 percent, emphasising that no country in the world have ever financed railway projects without bank facilitation.
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