Russian State Rail Company Eyes Projects In Nigeria, Ethiopia

Russian State Rail Company Eyes Projects in Nigeria, Ethiopia

State Russian Railways company hopes to add projects in Nigeria and Ethiopia to its African portfolio, First Deputy Managing Director Alexander Misharin said Thursday

MOSCOW (Pakistan Point News / Sputnik - 20th June, 2019) State Russian Railways company hopes to add projects in Nigeria and Ethiopia to its African portfolio, First Deputy Managing Director Alexander Misharin said Thursday.

The company announced it would engage in Africa at this month's SPIEF economic forum in St. Petersburg. Misharin named Ghana and Egypt as two potential partners.

"We need more understanding of the projects [available] in Africa. We are exploring [opportunities in] Egypt, Ghana, Nigeria, Ethiopia," he said at a Russia-Africa conference in Moscow.

The company signed a memorandum of understanding with the Cairo-based African Export-Import Bank last November wherein they agreed to hold consultations on investment projects in the railway sector.