Nigeria's Enugu State Plans 117-km Monorail Line

The Enugu State government plans to build a 117-km monorail line.Announcing this on Wednesday at the presentation of the project to the Urban Development Bank of Nigeria (UDBN) plc, Enugu State Governor Sullivan Chime said the project would cost the state government about N256 billion (US$41.6 billion). He said the project would also create 4,000 new jobs and would be executed in six phases.The first phase would be completed between 20 months and 24 months from the date of financing being secured.Chime urged the UDBN to collaborate with the state government and its technical partner, Globim Trans International of Canada, by allowing the state government to access part of the bank's N10 billion Public Mass Transit Revolving Loan Scheme.He described monorail transport system as safe, economically viable and self-sustaining.The presentation of the project was made by Dr. Jude Igwemezie, Chairman of Globim Corporation, a global infrastructure and management outfit.UDBN Managing Director Adekunle Oyinloye said that the bank was ready to partner all willing state governments to address their infrastructure needs, including water, roads, waste management, rural mobility and tourism through the use of alternative financing techniques.Oyinloye said the bank had granted more than N8.0 billion in loans under its mass transit revolving loan scheme within the last one year.He emphasised the need for contiguous states and local governments to embrace the concept of joint service schemes to arrest infrastructural decay, especially in the road, water and waste management sectors.He said Nigeria's infrastructure deficit must be redressed to achieve the nation's plans for attaining some of the Millennium Development Goals (MDGs) and its socio-economic reforms.
Click here to read full news..