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China rail group signs $12bn Nigeria deal

A Chinese state-owned rail company has signed the country’s largest overseas contract valued at almost $12bn, the official Xinhua news agency reported on Wednesday.

Xinhua quoted Meng Fengchao, chairman of China Railway Construction Corporation, as saying that the company had formally signed a deal to build a 1,400km railway along the coast of Nigeria.

CRCC could not immediately be reached for comment.

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