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.
“We are already in conversation with GE, we are negotiating with them, by Monday we will conclude agreement on the interim trade, which means that they will start working and functioning from this December.
“But NRC will still be on the platform, till we conclude the proper negotiation agreement, which will likely be within March and April 2018.
“ Then NRC will be out, it will be fully managed by GE. They will work on the infrastructure, which is about 700 million dollars worth of investment on infrastructure.
“Two billion dollars for O and M, so their investment is about 2.7 billion dollars for the entire project,” he said.
He, however, said that the narrow gauge rail lines would be managed for the period of 20 to 30 years, adding that Nigerian contractors would be engaged.
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