China signs its largest overseas contract with $12B Nigeria railway deal

Cao Baogang (right), VP of China Railway Construction Corporation (CRCC) China-Africa Construction Limited, shakes hands with Nigeria’s Transport Minister, Idris Audu Umar, after signing a contract for a railway project in Nigeria in Abuja on November 19, 2014.

China has secured its biggest overseas engineering contract with a deal worth almost US$12 billion to build a railway in Nigeria.

The announcement of the contract win for China Railway Construction Corp (CRCC), announced by Xinhua yesterday, puts back on track China’s ambitions for rapid expansion abroad in railway projects.

On November 6, the Mexican government abruptly cancelled on transparency concerns a US$3.75 billion high-speed railway deal awarded days earlier to a consortium led by CRCC.

Read more: China signs its biggest overseas contract with US$12b Nigeria railway deal | South China Morning Post.