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Presidency lists Nigeria's
benefits from Buhari's China
visit
April 15, 2016 

President Muhammadu Buhari has
expressed satisfaction with the
outcome of his working visit to China,
which has yielded additional
investments in Nigeria exceeding $6
billion.
President Buhari believes that the
several agreements concluded with the
Chinese during the visit will have a
huge and positive impact on key
sectors of the Nigerian economy
including power, solid minerals,
agriculture, housing and rail
transportation.
In the power sector, North South
Power Company Limited and Sinohydro
Corporation Limited signed an
agreement valued at $478,657,941.28
for the construction of 300 Mega Watts
solar power in Shiriro, Niger State.
In the solid minerals sector, Granite
and Marble Nigeria Limited and
Shanghai Shibang signed an agreement
valued at $55 million for the
construction and equipping of granite
mining plant in Nigeria.
A total of $1 billion is to be invested in
the development of a greenfield
expressway for Abuja-Ibadan-Lagos
under an agreement reached by the
Infrastructure Bank and Sinohydro
Corporation Limited.
For the housing sector, both companies
also sealed a $250 million deal to
develop an ultra modern 27-storey
high rise complex and a $2.5 billion
agreement for the development of the
Lagos Metro Rail Transit Red Line
project.
Other agreements announced and
signed during the visit include a $1
billion for the establishment of a Hi-
tech industrial park in Ogun-
Guangdong Free Trade Zone in Igbesa,
Ogun State.
Furthermore, the Ogun-Guangdong
Free Trade Zone and CNG (Nigeria)
Investment Limited also signed an
agreement valued at $200 million for
the construction of two 500MT/day
float gas facilities.

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