Consortium led by General Electric submits only bid for Nigeria’s rail concession – Real Estate Market Data and Research for Nigeria and other African Countries | estate intel

Consortium led by General Electric submits only bid for Nigeria’s rail concession

Abuja - Kaduna Railway. Image Source: Abujafacts.ng

Abuja - Kaduna Railway. Image Source: Abujafacts.ng

According to Reuters, a consortium led by General Electric submitted the only bid for a Nigerian railway concession project worth around $2 billion for two lines connecting northern cities to others in the south, a procurement process adviser said on Wednesday. The only bid, led by GE, was in partnership with Transnet of South Africa, Dutch-based APM Terminals and China’s Sinohydro Consortium.

The concession will cover about 3,500 km (2,200 miles) of existing narrow-gauge lines from the southwestern commercial capital, Lagos, to Kano in the north, and southeastern oil hub Port Harcourt to Maiduguri in the northeast.

“We received one bid today,” said Fola Fagbule, vice president and co-head of advisory at Africa Finance Corporation (AFC) which ran a procurement process after being appointed lead adviser by the government.

Nigeria has been looking for partners to overhaul its ageing railway system, built mainly by British colonial rulers before independence in 1960.

Nigeria’s upper chamber of parliament, the Senate, said in November it would investigate the railway concession over possible violations by Nigerian officials.

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