No fewer than 110 investors on Friday in Abuja expressed interest in
the 10 power plants of Niger Delta Power Holding Company (NDPHC) Ltd,
currently under construction.
Mr James Olotu, the Managing Director of NDPHC, made this known at a news conference.
Olotu said the plants are Alaoji Generation Company Nigeria Ltd,
Benin Generation Nigeria Ltd, Calabar Generation Nigeria Ltd, Egbema
Generation Company Nigeria Ltd and Gbarian Generation Company Ltd.
The others are Geregu Generation Company Ltd, Ogorode Generation
Ltd., Olorunsogo Generation Company Ltd, Omoku Generation Ltd, and
Omotoso Generation Company Ltd.
He said the envelops for the 110 expression of interest had been
collated for the 80 per cent shareholding divestment of the power
station infrastructure currently being delivered by NDPHC.
Olotu said the collection of bids closed at 5 p.m. at the NDPHC
headquarters and the Bureau of Public Enterprises office in Abuja which
were the two designated centres for submission of bid envelopes.
The opening of the bid envelops would be done on Monday under security cover, after which they would be analysed, he added.
Olotu said the bid transaction would be completed in January, while the physical transfer of assets would be done later in 2014.
The managing director said five out of the 10 power stations had
reached 95 per cent completion while one had attained 90 per cent
completion with the remaining four at 85 per cent completion.
Olotu gave the assurance that the NDPHC would complete construction
of the 10 plants before handing them over to successful bidders.
The News Agency of Nigeria (NAN) reports that the project was
initiated in 2004 by former President Olusegun Obasanjo as part of
efforts by the Federal Government to boost power supply in the country.
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