Nigeria, China sign $500 million loan deal for new airport terminals

Nigeria and China yesterday signed several loans and eight Memoranda of Understanding in Beijing, China, as well as a $500 million loan for construction of the four new international airport terminals in Abuja and three other states. The other three locations for new international terminals are Lagos, Port Harcourt and Kano. Chinese construction giant, China Civil Engineering Construction Corporation, (CCECC) which will handle the contracts, assured it will deliver the four new airport terminals in March 2015, some 20 months away from now.  Official of the Nigerian aviation ministry Joe Obi, who witnessed the signing ceremony, said the CCECC made the commitment in China when Nigerian officials visited its facility. In a statement, Obi said the President of CCECC, Yuan Li, made the commitment when a delegation of Nigerian government officials paid him a courtesy/facility inspection visit at the corporate headquarters of the company in Beijing, adding that the quality of work to be done at the airports will be of international standard comparable to similar projects executed by the company in other parts of the world. The statement also quoted Yuan Li to have said, “the airport terminals’ construction remain a special project to the company, thus the company’s imprimatur of unrivalled excellence would be brought to bear in the building of the terminals in Nigeria.” CCECC is the biggest Chinese company doing business in Nigeria, with a local staff strength of about 20, 000 and an expatriate quota of 1000 Chinese citizens. The Aviation Minister, Princess Stella Adaeze Oduah, said when completed, the Nigerian international airports would take their rightful place in the world aviation map and boost Nigeria’s position as the natural hub for commercial aviation business on the African continent.

http://www.dailytrust.com.ng/index.php/business/58943-nigeria-china-sign-500m-loan-deal-for-new-airports

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