Chinese Export Import Bank to fund airport construction in Nigeria

Victoria
By Victoria September 7, 2012 15:42

Chinese Export Import Bank to fund airport construction in Nigeria

The Chinese Export Import Bank has agreed to lend N106bn to the Federal Government of Nigeria to finance the construction of six commercial and five cargo airport terminals over the next 24 months.
The new terminals will be located in Abuja, Lagos, Port Harcourt, Kano and Enugu. Construction of the terminals will be done by a Chinese firm, although the Bureau of Public Procurement had verified the pricing to ensure that it was competitive.
The N106N loan is for a tenure of 22 years, a moratorium of five years and carries an interest rate of 2% per annum.

Victoria
By Victoria September 7, 2012 15:42
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