News Column

Skye Bank Supports Railway Development

June 11, 2014

Obinna Chima



Skye Bank Plc has lent its support to the effort to transform the operations of the Nigeria Railway Corporation (NRC) by providing funding for the acquisition of two new set of diesel multiple unit passenger coaches for narrow guage track.

A statement explained that Skye Bank financed the project for its client, Kintech Nigeria Limited, which executed the job for the Nigerian Railway Corporation.

Kintech Nigeria Limited is in the business of engineering design, manufacture, supply and commissioning of engineering objects.

The Vice-President of the Federal Republic of Nigeria, Architect Namadi Sambo, who commissioned the two diesel passenger trains, recently said the event marked another watershed in the annals of the NRC as the government makes efforts to reposition it.

The Vice President said other on-going railway projects in the country would be fast-tracked so that cheap means of transportation would be made available to members of the public.

He commended the bank for financing developmental projects and programmes and described it as a partner in national development.

The Chief Executive Officer of Kintech Nigeria Limited, Chief Fola Kuforiji, described the project as a laudable and transformational development in the Nigerian rail system and transport infrastructure.

"It will provide fast, comfortable, safe and efficient means of transportation both in the metro and long distance services of the Nigerian Railway Corporation, that meet with international standards and best practices", he said.

Kuforiji commended Skye Bank for being one of their partners and supporters during the execution of the project.

Skye Bank is a prominent player in project financing and has funded several developmental projects in Nigeria in the areas of infrastructure, education, healthcare, transportation, housing, among others.

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Source: AllAfrica


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