Tag Archives: railway
railway: Latest News
Dana Sanchez, 11:24 am
Built in China, paid for by China, built by Chinese, operated and maintained by Chinese — news media reports often describe the newly refurbished, high-speed Addis Ababa-Djibouti Railway as a project in which China is fully vested. But China didn’t finance the entire railway by a long shot. Ethiopia and Djibouti financed about 45 percent of the Addis Ababa-Djibouti Railway.
Staff, 11:40 pm
Patrice Talon, Benin’s new businessman president, has promised to resolve conflicting interests that have blocked modern rail transport. In 2013, Benin and Niger agreed to build a railway with France’s Bollore, with plans to extend the railway to Burkina Faso, Togo and Abidjan in Ivory Coast. The aim was to kickstart growth in five of the world’s poorest countries. Then a Benin court halted work in 2015. New track intended to cover 310 miles has been lying in Cotonou, oxidizing in the sun.
Dana Sanchez, 10:40 am
Djibouti’s refurbished railway linking landlocked neighbor Ethiopia to the coast is just one of 14 major infrastructure projects in the works being financed mainly by Chinese banks to the tune of $14.4 billion. The tiny Horn of Africa country has major expansion plans. Some wonder how it can justify such huge investments in a country of just 1 million people with widespread poverty and unemployment.
Dana Sanchez, 4:35 pm
Canada has lent South Africa $450 billion to buy rail equipment from the Quebec-based company, Bombardier, expanding Canada’s footprint in South Africa. South Africa is a strategic market and a priority for Canada. The deal with Bombardier will help Canada “showcase Canadian capability to build and deliver on landmark projects worldwide,” Canadian Business reported Monday.
Keren Mikva, 11:27 am AFKI Original
China has been rebuilding the Benguela Railway since 2007 as a part of an infrastructure-for-oil trade agreement. The final cost of reconstruction was estimated at $1.83 billion in exchange for Angola’s commitment to become China’s main oil supplier. In 2010, Angola overtook Saudi Arabia as the bigger oil supplier to China, demonstrating the significance of its position as a trading partner. It’s expected to usher in a new period of cultural and economic exchange in Central Africa. Here are 12 things you didn’t know about the Benguela Railway.
Makula Dunbar, 4:49 pm
A $475 million transportation project launched for testing in Ethiopia last week, CCTV Africa reported. Backed by the China Railway Construction Corporation — which trained Ethiopians, who are soon-to-be light rail workers in China — the project is set to officially launch in three months. Close to 1500 passengers per hour, according to the report, will be carried between the 39 light rail stations.
Kevin Mwanza, 10:19 am
Egyptian private-equity firm Qalaa Holdings, formerly known as Cidatel Holdings, said it will invest $70 million to accelerate the movement of rail cargo carried from east Africa’s largest port of Mombasa in the face of stiff competition from a new Chinese-backed standard gauge link expected to run parallel to the old one. Qalaa is the majority equity owner in the century old Rift Valley Railways running from Kenya’s shoreline to neighboring landlocked Uganda.
Kevin Mwanza, 2:44 am
With the recent $12 billion dollar agreement signed between the Nigerian government and the China Railway Construction Corporation (CRCC), there has been increasing excitement over the potential of Nigeria’s railway sector. In the past few years, the Nigerian government has been shopping for private investors to help modernize the sector through Public-Private Partnerships.
Dana Sanchez, 3:50 pm
The China Railway Construction Corporation’s eye-popping $12 billion deal to build an 870-mile railroad in Nigeria is the biggest single overseas contract in Chinese history and will boost the country’s manufacturing sector just as its overall economy shows some signs of slowing, according to a report in ForeignPolicy.
Kevin Mwanza, 5:52 am
Zambia may soon have another private railway line that would link the country with Angola and the Democratic Republic of Congo (DRC) from Chingola in northern region, after North Western Railway and South Africa’s Grindrod Limited signed a US$1 billion joint venture agreement to construct a more than 580km rail link. The new railway line, whose construction is expected to start this quarter, marks a milestone in Zambia’s contribution to infrastructure development, as espoused by the SADC regional leadership.
- Real Estate