Otu begins construction of 365km Calabar-Obudu railway — News — Headline News – Nigeria and World News
Cross River State Governor, Senator Bassey Otu, has inaugurated construction of a 365km railway line linking the southern and northern parts of the state.
Speaking at a ceremony at the Tinapa Free Zone Resort on Tuesday, the governor said the railway project was one of the outcomes of the investment summit held at the Calabar International Conference Centre in August 2023, where the state government actively engaged with financial, infrastructure and social investment players to buy into the growth trajectory of the Cross River economy.
“Today therefore marks an important milestone in our efforts to expand and diversify our infrastructure stock as we partner with Messers Reinhoek Limited in the construction of the Grand Rito railway project which will run from Calabar to Obudu. Once completed, the project will cover a distance of about 365km and will have main terminals at Calabar and Obudu and three substations at Ugep, Ikom and Ogoja,” Otu said.
Otu also disclosed that the cost of the project was conservatively estimated at $350 million, adding that the public-private partnership in infrastructure development was based on equity investment and debt financing from financial institutions with significant support from the Cross River State Government.
The Governor said the railway project is important for the economic growth of the state as it is in a strategic location among other regional states.
“Cross River is the border with Equatorial Guinea, Cameroon and Sao Tome and Principe. It is also home to the Calabar Free Trade Zone (CFTZ), Nigeria's largest export processing zone,” Otu said.
“This railway line will not only facilitate intra-state travel but will also act as an evacuation route for goods and services within the borders.”
He expressed optimism that increased international trade and its ripple effects would stimulate entrepreneurship among Cross River State people and boost the state's Gross Domestic Product (GDP).
He ordered Reinhoek Investment LLC, the company in charge of the railway project, to demonstrate necessary seriousness in meeting the stipulated completion deadline.
The Governor also enjoined communities in the areas through which the railway project will pass to extend maximum cooperation to the construction company and directed residents of such communities to apply for secondary work with the company based on their capabilities and stipulated skills in line with local context.
He assured Cross Rivers residents that his administration remains committed to transforming the infrastructural situation in the state through lasting partnerships.
Stanley Orji of Linehoek Investments LLC said the project will attract investment, stimulate job creation and encourage the establishment of new businesses in high tech, tourism, manufacturing and agriculture.
He assured the government of his company's commitment to deliver the project within the agreed time frame.
Source: guardian.ng