GE has disclosed that it is transitioning leadership of the consortium selected to execute the Nigerian narrow-gauge railway concession, to Transnet.
In consortium with SinoHydro and APM Terminals, GE was awarded a concession to rehabilitate and operate narrow-gauge railway lines in the Western and Eastern regions of Nigeria last year. The partners signed an agreement to proceed with the Interim Phase of the project, which comprises remedial works on some of the narrow-gauge network and the supply of 10 locomotives and 200 wagons, in May.
The agreements reached with the Nigerian government are now being negotiated by Transnet, alongside the other consortium members.No details of the transition, such as financial agreements, have been disclosed.
This move is part of GE's strategy to exit its transportation business. The company plans to continue operating in Nigeria in areas such as healthcare and power.
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