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25 firms bid for electricity generating companies

18 July 2012, 14:38

Abuja -  The Bureau of Public Enterprises (BPE) on Wednesday said it had received technical and financial proposals from 25 potential investors in the country’s four thermal and two hydropower stations.

This is contained in a statement issued in Abuja and signed by Mr Chukwuma Nwoko, the spokesman of the BPE.

The privitisation agency had given a July 17 deadline for the submission of bids from potential investors for the six electricity generation companies.

The power stations are Ughelli Power Plc and Sapele Power Plc in Delta State, GereguPower Plc in Kogi and Afam Power Plc in Rivers.

The hydropower companies are the Kainji Power Plc comprising power stations in Niger and Kwara (Jebba Power plant) and Shiroro Power Plc.

The statement said July 31 had been set as deadline for the next stage of the privatisation would be the harvest of the bidders’ technical and financial proposals for distribution companies.

It said that July 31 had been set as deadline for this stage of the exercise.

The 11 distribution companies to be sold, are located in Abuja, Benin, Enugu, Eko (Lagos), Ibadan, Ikeja (Lagos), Port Harcourt, Jos, Kaduna, Kano, and Yola.

The statement noted that the technical bids would be evaluated between Aug. 14 and Aug. 28, while the National Council on Privatisation (NCP) would approve the final results on Sept. 11.

``The deadline for the shortlisted bidders of the generation companies to submit their letters of credit is Sept. 18, while Oct. 2, is for shortlisted bidders for the distribution companies.

``Consequently, NCP’s approval will pave the way for the opening of financial bids of the shortlisted investors,’’ it said.

The statement added that between Sept. 25 and Oct. 10, the financial bids of prospective investors for the privatisation of the successor companies created from the Power Holding Company of Nigeria (PHCN) would be opened.

It also said that the NCP would announce the preferred bidders for the 17 successor companies on or before Oct. 23.


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