Raphael
SENIOR MEMBER
- Joined
- Mar 1, 2012
- Messages
- 3,287
- Reaction score
- 5
- Country
- Location
China to Build $12 Billion Railway in Nigeria : World : Chinatopix
China, the world's second largest economy, is planning to build a railway system that would stretch for more than 850 miles along Nigeria, Chinese officials announced on Thursday.
The latest infrastructure project of China is reportedly worth $12 billion and is said to be the single biggest contract planned by the country.
The domestic economy of China is already conserved, that is why they chose to invest in outside multibillion dollar infrastructure projects. The proposed plan is designed to launch new financing plans for China and the project will be made possibly by financial aids from the developing countries.
The investment would focus on the transportation project, specifically the Nigerian railway as developing countries continue to seek additional infrastructures to keep up with the increase of people and goods being transported from the country to help their economy grow.
The latest planned railway system is likened to the railroad expansion that was built in West America back in the 19th century which was constructed to expand the growth in the inland regions that are barely accessible. The railway project in Nigeria is said to be part of the three-decade economic transformation to pave way for international trade.
In the last decade, China has spent billions of dollars in building roads and railways to expand its range of economic opportunities and to provide help to the Chinese workers inland.
Nigeria is not the only country that faces the same challenges; Brazil and India also need to improve their transportation if they want a better economy.
According to reports, a large proportion of jobs exists only in the coast. For this reason, governments in different countries need to cater to those who are living in other areas of the country in order to assure that people are being treated fairly.
Economic expansion is now creating a huge demand for transportation and reports say that there might be around $78 trillion in available fundnig infrastructure projects by 2025. The funding will reportedly come from private investors and existing finance groups.
China, the world's second largest economy, is planning to build a railway system that would stretch for more than 850 miles along Nigeria, Chinese officials announced on Thursday.
The latest infrastructure project of China is reportedly worth $12 billion and is said to be the single biggest contract planned by the country.
The domestic economy of China is already conserved, that is why they chose to invest in outside multibillion dollar infrastructure projects. The proposed plan is designed to launch new financing plans for China and the project will be made possibly by financial aids from the developing countries.
The investment would focus on the transportation project, specifically the Nigerian railway as developing countries continue to seek additional infrastructures to keep up with the increase of people and goods being transported from the country to help their economy grow.
The latest planned railway system is likened to the railroad expansion that was built in West America back in the 19th century which was constructed to expand the growth in the inland regions that are barely accessible. The railway project in Nigeria is said to be part of the three-decade economic transformation to pave way for international trade.
In the last decade, China has spent billions of dollars in building roads and railways to expand its range of economic opportunities and to provide help to the Chinese workers inland.
Nigeria is not the only country that faces the same challenges; Brazil and India also need to improve their transportation if they want a better economy.
According to reports, a large proportion of jobs exists only in the coast. For this reason, governments in different countries need to cater to those who are living in other areas of the country in order to assure that people are being treated fairly.
Economic expansion is now creating a huge demand for transportation and reports say that there might be around $78 trillion in available fundnig infrastructure projects by 2025. The funding will reportedly come from private investors and existing finance groups.
