GINLGlobal Infrastructure Nigeria Limited
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This was a sequel to a report of the committee set up by the late president to check the concession process and the state of the steel complex, which indicted GINL of 'asset stripping''.
GINL's operation is mobile and flexible, according to Schmidt, and its workforce development station, which is its job center, has been gearing up for this scenario since the beginning of the storm.
GINL has also been awarded a 20-year concession by the Bureau of Public Enterprises (BPE) to manage the Central Railways line that connects NIOMCO's iron ore mines near the town of Itakpe in Kogi State with Ajaokuta Steel Rolling Mill and Delta Steel Company.
As under Nigeria's port landlord model of concessioning, the actual rail infrastructure will remain the property of the Nigeria Railway Corporation (NRC), but GINL will be responsible for providing all services on the railway.
Given GINL's control of Ajaokuta Steel Company and NIOMCO, it was the obvious choice to take over the railway line.
GINL will pay an annual fixed concession fee of N25m, plus a variable concession fee of N0.50 per tonne per kilometre (t/k) for traffic levels up to 164m t/k and N0.35 t/k beyond that level.
It is hoped that GINL will finally complete the Warri rail extension.
As part of the agreement with the BPE, GINL will also take an 80% stake in the previously state- owned Delta Steel Company.