Olayinka Paramole's Blog

All Packages Revolve Round Life; Culture, Entertainment, Religion, Women and Youth Empowerment.
facebook tweeter google linked in you tube rss
  • Home
  • ENTERTAINMENT
  • POLITICS
  • SPORTS
  • RELIGION
  • BUSINESS
  • OTHERS

Thursday, May 25, 2017

GE wins $2.2bn narrow gauge rail concession

  • May 25, 2017
  • Olayinkaparamole'sblog
  • BUSINESS
  • No comments





Okechukwu Nnodim, Abuja
The Federal Government on Wednesday announced that General Electric, a global conglomerate, had emerged the preferred bidder for the narrow gauge railway concession in Nigeria.
It handed over the letter of award to GE at the headquarters of the Federal Ministry of Transportation in Abuja and noted that the ceremony marked the formal concession of the narrow gauge rail facilities to the firm for investments.
The government said the concession would see GE invest in excess of $2.2bn in the narrow gauge rail system that traverses almost the entire country.
According to the ministry, one trunk of the rail line starts from Lagos and goes through several states like Ogun, Oyo, Kwara, Niger and Kaduna down to Kano.
Another trunk starts from Port Harcourt through Abia, Enugu, Benue, Nasarawa, Plateau, Bauchi and Gombe states, and terminates in Maiduguri.
Officials of the ministry stated that before the end of this year, GE would introduce 20 locomotives and about 200 coaches to move freight and passengers, adding that more investments would follow.
The Minister of Transportation, Rotimi Amaechi, who was represented by the Permanent Secretary in the ministry, Mr. Sabiu Zakari, handed over the letter of award to the President and Chief Executive Officer, GE, Mrs. Jamie Miller.
Miller told journalists that GE would work on the project with its partners, adding that the firm was pleased to emerge as the preferred bidder.
“GE and its partners will work with the Federal Government to work through a concession process that will bring the railway operations alive. GE will bring both project management and deep knowledge of the industry, and how to make projects like this in a successful way,” she said.
On his part, Zakari said, “The Federal Executive Council has approved the outline business case for the concession of the narrow gauge rail lines across the country. Today the President, Transport Section of GE, who are the preferred bidder for the concession, came and collected the letter of award.
“Based on that, we had a few discussions on the interim solutions that should be on board before the final concession agreement. We will also go into an interim arrangement with GE that will see them provide us with locomotives and wagons, as well as the renovation of the narrow gauge lines, which will now enable usage.”
He added, “GE will bring many coaches, which will help in freight and passenger movement, and this will ginger the economy. Our total agreement is about 100 wagons in the interim and 20 locomotives.
“They will make investments in terms of renovation and reactivation of wagons, coaches and the rail tracks, together with the signalling and railway stations. This will make the narrow gauge comfortable to use across the country and GE will recoup its investments over time.”
Email ThisBlogThis!Share to XShare to Facebook

← Newer Post Home Older Post →

0 comments:

Post a Comment

Subscribe to: Post Comments (Atom)

About Me

My photo
Olayinkaparamole'sblog
View my complete profile

Popular Posts

  • Lagos Stood Still for HRM Oba Owolabi Adeyemi Adeniyi (Maforunyomi 1) Oba of Igbobi-Sabe
    Lagos stood still for Oba Owolabi Adeyemi Adeniyi (Maforunyomi 1) Oba of Igbobi-Sabe, Lagos, when he and his adorable wife Olori Mosunmola...
  • FG EMPLOYES 350,000 GRADUATES IN 2017
    The Federal Government will employ additional 350,000 unemployed graduates in 2017. The graduates will be employed under the N-Power Vol...
  • Women’s marches: 'This is just the start'
    The sea of pink hats said it all. Across the National Mall and surrounding streets Saturday in Washington, a mass protest march by women...
  • 264 million children worldwide not in school – UNESCO
    Internally Displaced Persons. File Photo Some 264 million school-age children and young people worldwide were not in ...
  • HOW I HELPED MOSES BECOME A STAR
    Slaven Bilic has revealed that he had to push Victor Moses to get the best out of the forward when he was on loan at Wes...
  • Again, Trump Blames China For Global COVID-19 Deaths
    US President Donald Trump again lashed out at China Wednesday over the coronavirus pandemic, blaming Beijing for “mass Worldwide killing.” T...
  • Police arrest man with 88 bundles of fake dollars
    Dollars The Niger State Police Command on Monday arrested one Abubakar Suleiman with 88 bundles of fake dollars,...
  • UPDATE!! Lagos Eases Coronavirus Lockdown, Reopening Churches, Mosques
    The governor of Nigeria’s commercial capital Lagos said on Saturday churches and mosques would reopen next week as the authorities move to e...
  • UNIOSUN THREATENS TO EXPEL OVER 4,410 STUDENTS
    The management of the Osun State University has said 4,410 students of the institution may lose their studentship for owing the fees r...
  • ARSENAL LEGEND TO JOIN WOLFSBURG
    Arsenal youth academy boss Andries Jonker was on Monday named head coach at struggling Bundesliga club VfL Wolfsburg and reveal...

For Enquiries please call: 09030118301 or Email @yinkaparamoleshabi@yahoo.com

Name

Email *

Message *

Subscribe To olayinkaparamole's Blog

Posts
Atom
Posts
Comments
Atom
Comments
Copyright © Olayinka Paramole's Blog | Powered by Blogger
Designed by CHUKS LYON