3 months ago
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Cross River state governor, Senator Bassey Otu has flagged off the commencement of work on the 365-kilometer railway to connect the southern part of the state with the north.
Performing the ceremony on Tuesday at the Tinapa Free Zone Resort, the governor stated that the railway project is one of the fruits of the Investment Summit held in August 2023, at the Calabar International Convention Centre, where the state government had a robust engagement with financial, infrastructure and social investment players, seeking buy-in in the growth trajectory of Cross River’s economy.
“Today, therefore, marks an important milestone in our quest to expand and diversify the stock our infrastructure by partnering with Messers Reinhoke LLC for the construction of Grandlito Railway Project that will run from Calabar to Obudu. On completion, the project will cover an approximate distance of 365km with main terminals in Calabar and Obudu; while three sub-stations will be located at Ugep, Ikom and Ogoja,” Otu said.
Otu also disclosed that $350m is estimated as a conservative cost for the project, adding that the public-private partnership in the provision of the infrastructure is based on funds from equity investments and debt financing from financial institutions with significant backing from Cross River state government.
The governor said the rail project is important to the economic growth of the state being in a strategic location among other sub-nationals.
“Cross River is frontier to Equatorial Guinea, Cameroon, Sao Tome and Principe. It is also home to the largest export processing zone in Nigeria – the Calabar Free Trade Zone (CFTZ),” Otu said.
“The railway line will not only facilitate the easy intra-state movement, but will serve as evacuation corridor for goods and services within international borders.”
He expressed optimism that the expected boost in international trade and its ripple effect will drill down the entrepreneurial spirit of Cross Riverians and trigger the state’s Gross Domestic Product (GDP).
He enjoined the company handling the railway project, Reinhooke Investment LLC, to attach the desired seriousness to meet the stipulated timeline for completion.
The governor also charged communities whose areas the rail project will cut through to give maximum cooperation to the construction company, directing indigines of such communities to, in line with local content, apply for sub-jobs from the firm based on their capacities and set skills.
He reassured Cross Rivers residents that his administration remains committed to changing the infrastructural landscape of the state through enduring partnerships.
Stanley Orji of Rinehooke Investments LLC said the project will attract investments, stimulate job creation, and encourage the establishment of new businesses such as Hi-tech, tourism, manufacturing, and agriculture.
He assured the government of his company’s commitment to the execution of the project within the agreed timeframe.
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