01 April 2017, Sweetcrude, Lagos – It has emerged that General Electric, GE, is the only firm that has sent in bid for the Nigerian railway concession project.
The project is for two lines connecting Nigeria’s south to some cities in the north. GE sent in a $2 billion bid for the project at the expiry of the deadline for bidding on Wednesday.
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 North-east.
“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.
Reuters reports that the only bid, led by GE, was in partnership with Transnet of South Africa, Dutch-based APM Terminals and China’s Sinohydro Consortium.