Skye Bank finances acquisition of railway passenger coaches

Skye Bank plc has lent its support to the effort to transform the operations of the Nigerian Railway Corporation (NRC) by part financing the acquisition of two new sets of diesel multiple units passenger coaches for narrow-gauge track.

Skye Bank financed the project for its client, Kintech Nigeria Limited, which executed the job for the NRC. Kintech Nigeria Limited is in the business of engineering design, manufacture, supply and commissioning of engineering objects.

The Vice President Namadi Sambo, who commissioned the two diesel passenger trains on Tuesday, 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 ongoing railway projects in the country would be fast-tracked so that cheap means of transportation would be made available to members of the public, and commended the bank for financing developmental projects and programmes and described it as a partner in national development.

The CEO of Kintech Nigeria Limited, Fola Kuforiji, described the project as a laudable and transformational development in the Nigerian rail system and transport infrastructure, saying “it will provide fast, comfortable, safe and efficient means of transportation both in the metro and long distance services of the NRC, that meet with international standards and best practices.”

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.

HOPE MOSES-ASHIKE