Mota-Engil Informs About the Signing of a Contract in Nigeria in a Total Amount of 840 Million Euros
MOTA-ENGIL S.G.P.S., S.A. (MOTA-ENGIL) informs that its subsidiary for the Africa region, MOTA-ENGIL NIGERIA, LTD, signed a contract for the supply and financing of railway rolling stock in Nigeria worth about US$916 million with the Federal Ministry of Transportation.
The contract above referred is associated with the Kano – Maradi – Dutse railway construction project that is currently being executed in the north of Nigeria and was signed after a long process of validation and due diligence by the local regulatory authorities. The delivery and commissioning of the rolling stock will occur over the next 48 months.
This contract reinforces the commitment of the Nigerian government to improve the regional connectivity and the economic development in the north of the country and strengthens the capacity of the MOTA-ENGIL GROUP to support that development effort in this region of Africa.
With this award, MOTA-ENGIL continues to strengthen its order book in the African continent, reaching a record amount, enhancing the strong and sustained growth of the GROUP’S turnover.
Reuters
Portugal’s Mota-Engil signs 840 million-euro Nigeria rail contract
ABUJA, July 10 (Reuters) – Portugal’s largest builder Mota-Engil has signed an 840 million-euro ($920.05 million) contract to supply and finance railway rolling stock in Nigeria, strengthening its order book in Africa, the company said on Monday.
The contract is part of a $2 billion rail construction project connecting Nigeria and neighbouring Niger in the north, Mota-Engil said in a statement.
“The contract reinforces the commitment of the Nigerian government to improve the regional connectivity and the economic development in the north of the country, and strengthens the capacity of Mota-Engil Group to support that development effort in this region of Africa,” the company said.
A consortium led by Mota-Engil, and two Chinese ventures, were short-listed by Nigeria’s Lagos state for a $2.5 billion bridge in November.
Nigeria’s government, under former President Muhammadu Buhari, has sought to rebuild the impoverished north of the country, parts of which have been ravaged for the past decade by Islamist insurgents.
The project is part of a government plan to build rail networks across Nigeria to address the poor transport infrastructure that has stymied economic growth for decades.
Nigeria’s ministry of transportation didn’t immediately respond to request for comment.
https://www.reuters.com/article/portugals-mota-engil-signs-840-million-e/portugals-mota-engil-signs-840-million-euro-nigeria-rail-contract-idUKL8N38W3KZ