The Marina Express Train Service Ltd (METSL) and the Infrastructure Bank (TIB) will construct the proposed Lagos Metro Rail Transit (LMRT) Red Line project, local media reports.
The proposed Lagos State Mass Transit Train Services (MTTS), which is named “Red Line’’, will operate within the Lagos metropolis.
Adekunle Oyinloye, the Managing Director of the Infrastructure Bank, said that the proposed Lagos Metro Rail Transit (LMRT) project will cost N456 billion (USD 2.4 billion).
Minister of Transport, Sen. Idris Umar said the MTTS Red Line was projected to carry a large number of passengers per day, freeing up an estimated four to five hours productive time to each commuters on Agbado-Marina axis.
Umar called for private sector collaboration in other states of the federation to facilitate further infrastructure development in the country.
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