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Electricity: Deadline for Kaduna, Afam bidders ends today

By on April 16, 2013

Investors bidding for the Kaduna Distribution Company Plc and Afam Power Plc must submit their technical and financial proposals by the end of today (Tuesday), which is the deadline for the submission of the proposals.

The Head, Public Communications, Bureau of Public Enterprises, Mr. Chigbo Anichebe, confirmed this in a telephone interview with our correspondent in Abuja on Monday.

A total of 49 firms had expressed interest in the two electricity firms carved out of the Power Holding Company of Nigeria.

Both Afam Power and Kaduna Electricity Distribution were among the 17 PHCN successor companies that were earlier advertised for sale in December 2010 and went through a tender process, which culminated in the submission of technical and financial proposals in July 2012.

However, none of the bids received for the two companies scored the minimum 75 per cent required to progress to the financial bid stage.

This compelled the National Council on Privatisation headed by Vice-President Namadi Sambo to order a re-run of the entire transaction.

When the BPE announced the fresh offer of the two companies, a total of 49 companies submitted their Expressions of Interest to acquire 60 per cent equity in the firms.

 

 

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