Business GE to Invest $2.7bn on Nigerian Rail Lines- Amaechi


The Minister of Transportation, Mr Rotimi Amaechi on Saturday said General Electric (GE) was investing 2.7 billion dollars on infrastructure, Operation and Maintenance (O and M) of the entire narrow gauge lines concession.

According to him, GE is investing 700 million dollars on infrastructure, with two billion on O and M.

He, however, said that the ministry concluded the agreement on interim trade with GE on Nov. 6, for them to commence work in December.

Amaechi noted that with the interim trade, Nigeria Railway Corporation (NRC) would still be on the platform until proper negotiation and agreement were concluded by April 2018 when GE would fully take over.

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