FG Concessions Rail Lines to GE, Multinational to Invest over $2.2bn

The Federal Government Wednesday handed over the letter of award appointing General Electric (GE) as the concessionaire for two narrow gauge rail lines in the country, after the company’s emergence as the preferred bidder for concessions.

The concession will see the U.S. multinational invest in excess of $2.2 billion in the two major narrow gauge rail lines that traverse several sections of the country.

The ceremony, which took place in the Ministry of Transportation, Abuja, marked the formal concession of the rail lines to GE for investment and operation.

The letter of award was handed over to the President/CEO of GE Transportation, Jamie Miller by the permanent secretary in the ministry, Alhaji Sabiu Zakari, who represented the Minister of Transportation, Mr. Rotimi Amaechi.

According to Miller, “Today we are pleased to accept the letter of award as the preferred bidder for the narrow gauge rails in Nigeria.

“GE, with its partners, is committed to working on this project. GE and its partners will work with the federal government to work through a concession process to bring Nigeria’s railway operations to life.

(BUSINESS NEWSPAPER)