REVEALED: General Electric To Run Nigeria’s Narrow Gauge Rail For 30 Years
It does not matter that the narrow-gauge rail is now archaic.
American conglomerate, General Electric, GE will have to make do with that in the concession arrangement it entered with Nigeria.
The federal government has said GE will rehabilitate and run two of Nigeria’s narrow-gauge rail lines – the western and eastern lines - for a period of 30 years.
It also announced plans to negotiate a $6 billion loan with China for the construction of the Ibadan to Kano rail line, adding that it was in talks with Julius Berger for the full rehabilitation of airports across the country.
In May this year, the Federal Government handed over the letter of award to GE as the concessionaire for two narrow gauge rail lines, following the company’s emergence as the preferred bidder.
The concession would see the firm invest over $2.2 billion in the two-major narrow-gauge rail lines that traverse several sections of the country.
Nigeria’s Minister of Transportation, Rotimi Amaechi, said GE would start operating in Nigeria in October.