Ouagadougou: The government of Burkina has just created this Wednesday Faso-Rail, a rail manufacturing and laying company whose headquarters will be in Bobo-Dioulasso and which will contribute to installing a railway network connecting the chiefs – provincial places.
‘The creation of this company is in line with the vision of His Excellency the President of Faso, who instructed the government to work to establish, at the national level, a railway network which can connect the different capitals of province,’ reported the Minister in charge of industry and trade, Serge Gnaniodem Poda.
The cost of creating the new company is around 70 billion FCFA and its establishment is expected in 18 months.
Faso-Rail has capital of 10 billion FCFA, 75% of which is held by the State and the remaining 25% open to the Burkinabe private sector.
The current rail network is rudimentary, squandered and in the hands of foreign private investors.
Source : Burkina Information Agency