The Federal Government of Nigeria, has said that the Bonny Deep Sea Port and the Railway industrial park will be funded by the China Civil Engineering Construction Corporation, at a cost of $700 million.
Minister of Transportation, Chibuike Rotimi Amaechi disclosed this during the groundbreaking ceremony of the project on Tuesday.
The Minister who represented the President said upon completion, trains on the Port Harcourt – Maiduguri Eastern Narrow Gauge Railway will run at 60 – 80 kilometres per hour.
He said, The Bonny deep sea port has a container terminal of 500,000 TEU (20 foot equivalent unit) per annum capacity and 100,000 DWT (deadweight tonnage) Berth.
He also said the sum of the socio-economic and environmental benefits of these projects, includes creation of massive employment locally.
‘‘In addition, there will be further utilization of local contents and technology transfer, increase in internally generated revenue and would serve as a fulcrum for the achievement of the Federal Government planned Integrated Development Masterplan,’’ he added.
