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General Electric Gives up Nigeria’s Rail Project

General Electric is leaving Nigeria in line with its new policy to exit the transportation business. GE will be handing over all rail projects to its partners in the transportation industry.

As obtained by Eureka Posts from Bloomberg and Seeking Alpha;

“In line with its strategy to exit the transportation business, General Electric is giving up a Nigerian railway concession and handing it over to Transnet.

GE won a contract last year to manage Nigeria’s narrow-gauge rail network in partnership with three other companies.

It signed an agreement with the West African nation’s authorities in April to proceed with the interim phase of the narrow-gauge concession that is expected to grow freight haulage capacity in the country ten-fold to 500K metric tons annually.”

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