Chinese trio deny offering $5,000 bribe in Kenya rail probe
9 SUSPECTS ARRESTED SINCE LAUNCH OF CT’S RAIL UNIT
Morocco inaugurates Tangier-Casablanca high-speed rail line
GE withdraws from $2bn Nigeria rail concession
Wegh Group invests in Mozambique sleeper plant
Kenyan parents traveling with children find comfort, safety in SGR trains
[MA] The official inauguration of Morocco’s first high speed line
Balking miners jeopardise $2.8 billion Mozambican coal rail
Court instructs PRASA to apply safety rules
TMH Africa completes purchase of DCD Rolling Stock factory
General Electric (GE) has withdrawn from a nearly $2bn Nigeria rail concession as a part of its strategy to wrap up its transportation business.
A procurement process adviser told news agency Reuters that GE has pulled out from the concession deal with the Nigerian government.
A consortium, which included GE, South Africa’s Transnet, APM Terminals and Sinohydro Consortium, won the contract to manage Nigeria’s narrow-gauge rail network last year. This consortium was the sole bidder for the project.
The rail concession contract was part of the Nigerian government’s plan to involve private investors in the refurbishment of its ageing railway network.
"GE said that it will be transferring leadership of the consortium to Transnet."
The concession project involved nearly 3,500km of existing narrow-gauge lines from the south-western city of Lagos to Kano in the north, and south-eastern oil hub Port Harcourt to Maiduguri in the north-east.
In April, the consortium also signed an interim agreement with the Nigerian authorities to carry out preliminary works on the narrow-gauge lines.
GE said that it will be transferring leadership of the consortium to Transnet and expressed confidence that the other consortium members will be able to execute the rail concession project.
Africa Finance senior vice president and head of advisory to the procurement process Fola Fagbule told the news agency that Transnet is in discussions to replace GE.
Following its exit from the transportation business, GE will continue to operate in Nigeria in healthcare and power sectors.
This article first appeared on www.railway-technology.com
About this website
Railpage version 3.10.0.0037
All logos and trademarks in this site are property of their respective owner. The comments are property of their posters, all the rest is © 2003-2018 Interactive Omnimedia Pty Ltd.
You can syndicate our news using one of the RSS feeds.