Minister of Transportation Chibuike Rotimi Amaechi on behalf of the federal government has signed a memorandum of understanding (MoU), with Russian for the modernisation, development of railway infrastructure, rehabilitation of existing Nigerian Railway Corporation (NRC) rolling stock-fleet and upgrading of workshops across the country.
The MoU involves two Russian firms: Russian Joint Stock Company Russian Railway (JSCRR) and Transmash Holding, a private rolling stock manufacturing company.
Signing the agreement with CEO-Chairman, Joint Stock Company Russian Railway, Oleg Belozerov and the CEO Transmash holding, Mr Kirill Lipa during the Russia-Africa Summit in Sochi, Amaechi said this would boost and Fastrack the construction of the rail manufacturing company in Nigeria.
