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Buhari To Meet Chinese President in South Africa in Bid to Renew Strained Economic Ties

by on December 2, 2015
 

President Muhammadu Buhari will be in South Africa on Thursday to participate in the Forum on China/Africa Cooperation (FOCAC) taking place in Johannesburg, December 4-5, 2015.

President Muhammadu Buhari will follow up his meeting with the Chinese leader Xi Jinping which took place on the sidelines of the United Nations General Assembly meeting in November in New York.  Of particular interest is the coastal railway project stretching for 1402 kilometers linking Lagos in the West with Calabar in the East; a project that is expected to be financed with 12 billion U.S Dollars Chinese loan and which will create about 200,000 jobs.

Another rail project that will be up for renegotiation is the $8.3bn Lagos-Kano standard gauge modernization project, of which only a segment, Kaduna-Abuja has reached completion stage. President Buhari is also expected to discuss ways of removing all obstacles in the way of the 3,050 MW Mambila Power Station, considered a strategic project which was conceived in 1982 but has not taken off.

The Chinese President had informed President Buhari of the willingness of his country to finance the whole project through a special loan agreement.

President Muhammadu Buhari will be accompanied by the Minister of Foreign Affairs, Geoffrey Onyema; Minister of Transportation, Chubuike Amaechi; and theMinister of Industry, Trade and Investment, Okechukwu Enelamah, will return to Abuja on Saturday, December 5.

 

Omolara Adegoke- Abuja

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