4 February 2013

Nigeria: GE, Dangote Partner On Investment

Photo: GE
GE Global Chairman/CEO and Jay Ireland with billionaire businessman and industrialist Aliko Dangote when the GE execs paid him a courtesy visit

Dangote Industries Limited, last week in Lagos signed a strategic agreement with General Electric (GE) to collaborate on power, transportation and oil & gas projects.

GE is a global leader in the design, manufacture, supply, installation and maintenance of technology and services for the power sector.

According to Dangote Group, the strategic co-operation agreement was signed in Lagos during a meeting with president of Dangote Group, Aliko Dangote and GE Global chairman, Jeffrey Immelt.

The agreement covers projects for the design, production and sales of GE aeroderivative gas turbine power generation packages in Nigeria and other selected countries in Sub Saharan Africa, strategic co-operation in the independent power production sector in Nigeria with GE serving as a technical partner/potential investor and Dangote Group as financial investors.

Dangote Group and GE are to jointly invest in the upgrading and development of modern railway infrastructure for Nigeria. They also agreed to collaborate on projects in the oil and gas sector.

Aliko Dangote and Jeffrey Immelt expressed happiness at the collaboration between the two leading conglomerates for the purpose of infrastructural development in Nigeria and the rest of Africa.

The two executives are hopeful that the two companies would put expertise together to provide world class services in the provision of the infrastructures which African countries are in dire need of.

Sounding upbeat in the ability of the two firms to change the face of infrastructure in Africa, Dangote and Immelt pointed out that with Dangote Group as one of the largest diversified conglomerates in Africa in the area of cement, foodstuff manufacturing, logistics and real estate, and GE - a global leader in the design manufacture, supply and installation of technologies and services, the partnership would no doubt be capable of addressing not only Nigeria's infrastructure deficit but that of the rest of Africa.

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