The ten
firms prequalified and approved by the National Council on Privatisation will
on Wednesday July 31, 2013 fight for the right to acquire majority stakes in
two electricity firms, Afam Power Plc and Kaduna Electricity Distribution
Company. Afam Power Plc and Kaduna Distribution Company are two of the 18
successors companies carved out of the Power Holding Company of Nigeria Plc and
are scheduled for sale to private sector operators.
Axis
Power Distribution Limited, NAHCO Consortium, INCAR Consortium, Aiteo
Consortium, LEDA Consortium, Northwest Power Limited and Copperbelt Consortium
have been pre-qualified for Kaduna Disco by the NCP chaired by Vice-President
Namadi Sambo. Primeniza Energy Limited, TES Power Limited and Taleveras Group
were pre-qualified for Afam, while Foby Energy Limited was disqualified.
The
eventual winner will have to pay 60 per cent of the asset worth of the company
as determined earlier by the Nigerian Electricity Regulatory Commission. It
will pay 60 per cent because the Federal Government is selling only that, while
retaining 40 per cent equity in the company. The Afam Power Plc and Kaduna
Electricity Distribution Plc were among the 17 PHCN successor companies that
were earlier advertised for sale in December 2010, and both, along with the
others, went through a tender process that culminated in the submission of technical
and financial proposals in July 2012.
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