Cross River Gov Flags Off 365km Calabar – Obudu Rail Line …C0NTINUE READING HERE >>>
The Cross River State Governor, Sen. Bassey Otu on Tuesday flagged off the 365 kilometres Calabar – Obudu rail line to link the Southern district with other two senatorial districts in the ststate.
A total of $350 million is projected to be spent by the Cross River State government for the construction of the railway which aims to boost economic activities in the state upon completion.
Governor Otu stated this on Tuesday in Calabar, the state’s capital while performing the groundbreaking ceremony for the railway project which is a Public-Private Partnership (PPP) funded initiative driven by Messers Reinhoke LLC in partnership with the State government.
Speaking at the ceremony which took place at the premises of the Tinapa Free Zone Resort, Governor Otu described the project as one of the fruits of the Investment Summit held in August 2023 at the Calabar International Convention Centre.
He stressed that the summit offered the state government a robust engagement with financial, infrastructure and social investment players seeking to buy into the growth of the Cross River State’s economy.
“Today, therefore, marks an important milestone in our quest to expand and diversify the stock of our infrastructure by partnering with Messers Reinhoke LLC for the construction of the Grandlito Railway Project that will run from Calabar to Obudu.
“Upon 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 informed.
The Governor added that the partnership is anchored on funds from equity investments and debt financing from financial institutions with significant backing from the Cross River State Government.
Speaking further, Otu averred that the importance of the rail project to the economic growth of the state is promised on the strategic location of the state among other sub-nationals and proximity to neighbouring countries.
“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),” he said.
He urged the company handling the railway project, Reinhooke Investment LLC to expedite the implementation of the project to meet the stipulated timeline for its completion.
Otu also charged communities whose areas the rail project will pass through, urging them to give maximum cooperation to the construction company while directing indigenes of such communities to apply for sub-jobs from the firm based on their capacities and set-skills in line with local content.
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