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KADUNA TO INVEST SHARE OF BAILOUT FUND ON METRO LINE



The Kaduna State Government has disclosed plans to use its share of the N10bn that every state has been allowed to borrow long-term from the Central Bank of Nigeria at 9% interest rate, for the mass rail transport system.

Twelve companies were on Monday pre-qualified to develop and operate a system in Kaduna metropolis.
The 12 selected companies were among the 18 that submitted bids to build and operate the rail network.

Those prequalified are, China Railway, 14th Bureau Group, Alstom, Gauff Gmbh, CCECC, SREI Infrastructure Finance, Atom Services, China Railway International Group, Sino-Hydro Corporation, the Infrastructure Bank, China Camce Engineering, China Rail/Medhal and Daxi SA Charleroi.

A statement issued by Governor Nasir El-Rufai’s spokesman, Samuel Aruwan, said the State Executive Council considered the report of the bid evaluation committee, and approved that the 12 companies who scored highest in the bid evaluation, should be invited to submit preliminary designs, business plans and evidence of financial capability within the next 21 days.