Lagos is one of the world's densest cities. They plan to float a bond to pay for two new rail lines. I'm not sure where this relates to the BRT lines they have been planning, but part of this project concerns value capture schemes for the land around the transit stations. I wonder if they'll have to change their Euclidian zoning. Sure.
“The Lagos State Government intends to finance the infrastructure for both rail lines through the capital market by floating an estimated N275bn worth of rail infrastructure bonds.”
He also gave the details of the capital cost of project as Okokomaiko-Iddo ($582m), Iddo-Marina ($215m), and Agbado-Iddo ($402m). He stressed that the project would assist in traffic decongestion and landmark public/private partnership and opportunities for real estate development near the rail stations.
Mecca plans on building a light rail line as well. Seems silly in a place where oil is king no?
And we've seen the numbers before, but here is an article in another format on China. Business Week:
China is now undertaking the world's biggest railway expansion since the U.S. laid its transcontinental line in the 1860s. Beijing plans to spend $248 billion through 2020 on 75,000 miles of new track, for both freight and high-speed passenger lines. At that point, China's high-speed passenger network will likely be the biggest on earth.
H/T Orphan Road