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Nigeria : CRS $36 million project gets stranded
Publish Date : 03-Jul-2012
As per the reports, even after five years of its launch, the first monorail project in Cross River State is yet to take off. The ground breaking for the multi-million project was done in the last days of the Donald Duke administration in 2007, when the incumbent governor was about to be inaugurated. The first phase of the 12.9-kilometre project was expected to cover the state’s business hub at Tinapa and the Margaret Ekpo International Airport, while the second phase would have been extended to all parts of the state.
The state government had ststed that the project will now be completed in 2014.
The government was weighing certain issues, including low activities at Tinapa and low returns on investments at the business resort before taking a final decision on the project. The government needed to resolve the contentious issues before getting a concession agreement for the project.
