PHCN PRIVATIZATION: List Of Preferred Bidders Now Out?

Oando Consortium, Rockson Engineering and Honeywell Energy Resources International Limited are among prospective investors that will bid for the control of 11 power distribution companies on Tuesday (today).

Spokesman for the Bureau of Public Enterprises, Mr. Chukwuma Nwokoh, confirmed that the financial bids opening for the companies recently approved by the National Council on Privatisation will hold today.

The council led by Vice-President Namadi Sambo had at its meeting on September 18 approved the evaluation of 21 firms jostling to buy into the power companies, carved out of the Power Holding Company of Nigeria, to proceed to the financial bid stage.

The list released by NCP showed that eight companies would bid for the Ikeja Distribution Company.

The bidders are Oando Consortium, Amperion Power Distribution Co Limited, Honeywell Energy Resources International Limited, Integrated Energy Distribution & Marketing Limited, Vigeo Holdings, Gumco, African Corporation AFC, & CESC, Kepco / NEDC Consortium, West Power and Gas and Rockson Engineering Limited.

The bidders for Ibadan Distribution Company are Western Consortium, Integrated Energy Distribution & Marketing Company and Kepco/NEDC Consortium.

Kann Consortium Utility Company Limited and Interstate Electrics Limited will be bidding for the Abuja Distribution Company.

For Enugu Distribution Company, the bidders are Rensmart Power Limited, Proglobal Power International consortium, Interstate Electrics Limited and Eastern Electric Nigeria Limited.

Only one firm each will be bidding for Jos Distribution Company, Yola Distribution Company and the Kano Distribution Company. They are Aura Energy Limited, Integrated Energy Distribution & Marketing Company and Sahelian Power SPV Limited, respectively.

The bidders for Eko Distribution Company are Oando Consortium, Integrated Energy Distribution & Marketing Limited, Sepco – Pacific Energy Consortium, Kepco/ NEDC Consortium, Honeywell Energy Resources International Limited and West Power and Gas.

Port Harcourt Disco has Power Consortium and Rockson Engineering Limited as bidders; while Benin DisCo has Vigeo Power Consortium; and Southern Electricity Distribution Company has Rensmart Power Limited and Rockson Engineering Limited.

At the ceremony today, the financial offers submitted by the bidding companies will be opened and evaluated against the reserved price.

The highest bid for each of the firms that meets the reserved price will be designated the preferred bidder.

The second highest bidder will be designated the reserved bidder so long as the bid price meets the benchmark.

At a similar financial bid opening on September 25, preferred and reserved bidders emerged for four power generation companies.

Eighteen successor companies have emerged from PHCN. While 17 of them are slated for privatisation, one – the Transmission Company of Nigeria – has been handed over to a management contractor, Manitoba of Canada, to manage for a period of three years.

Source: Punch