The federal government through the Ministry of Transportation has signed a Memorandum of Understanding (MoU) with Messrs MPH Rail Development (UK) to design, construct, inaugurate, operate and transfer of the PortHarcourt, Enugu, Calabar and Abuja standard gauge rail line on Public, Private Partnership (PPP) basis.
The memorandum government hinted was the first of its kind executed on its behalf by the Minister of Transportation, Senator Said Alkali in company of the Permanent Secretary of the Ministry, Olufemi Oloruntola, the Director Rail Development, Zirra Fimbarr, the Director Legal Services, Pius Oteh and the Management of the Company.
Alkali in a statement on Friday by the Director, Press and Public Relations. Olujimi Oyetomi, noted that the memorandum was executed following the approval outline business case and issuance of compliance certificate by the Infrastructure, Concession and Regulatory Commission (ICRC).
This development, Alkali further explained, wouldtmd enable the company to concentrate on preparing relevant documents to support a request for approval of the Federal Executive Council to execute the project.
He said: “The documents that are necessarily needed in furtherance of this initiative include comprehensive feasibility studies report, development of full Business Case Study, Environmental and Social Impact Assessment, Production of Resettlement Action Plan, the design of a Financial Model to execute the project and subsequent transfer to the Federal Government on PPP basis subject to 100 per cent funding with no loan or debt for or against the Nigerian government or any of its agencies.
“The project represents a landmark achievement for the Tinubu-led administration, which seeks to provide effective, efficient, affordable and sustainable rail transportation in Nigeria.”
Alkali, however, assured the investors of the Ministry’s support to ensure the successful execution of the project.
He also urged them to ensure diligent production and submission of all relevant documents that will facilitate the grant of FEC’s approval.