THE Infrastructure Bank Plc is to provide funds for the proposed $2 billion Lagos Red Line Rail Project that will commute two million passengers daily from Alagbado to Marina.
Hakeem Olopade, the bank’s executive director (Projects), disclosed this in Lagos over the weekend at the ongoing 3rd Economic Commission of West Africa States (ECOWAS) Investment Forum.
The Infrastructure Bank Plc is the chief promoter and financier of the rail project.
The funds, to be coordinated by the bank, will be sourced from the local and international markets.
Olopade said that the project had been in conception since five years ago and would be implemented by Marina Express Consortium to ease transportation in populated areas of Lagos.
According to him, the Red Line Rail project would stretch 37 kilometres with 36 pedestrian walkover bridges to end at the Marina.
The Infrastructure Bank Plc is the chief promoter and financier of the rail project.
The funds, to be coordinated by the bank, will be sourced from the local and international markets.
Olopade said that the project had been in conception since five years ago and would be implemented by Marina Express Consortium to ease transportation in populated areas of Lagos.
According to him, the Red Line Rail project would stretch 37 kilometres with 36 pedestrian walkover bridges to end at the Marina.
