18 April 2013, Abuja – Twenty investors are in contention for the Afam Power Generation Company, Genco, and the Kaduna Electricity Distribution Company, Disco, up for sale under the Federal Government privatisation plan for the Power Holding Company of Nigeria, PHCN, assets.
The Bureau of Public Enterprises, BPE, coordinating the sale on behalf of the government, said in a statement in Abuja that it has received nine bids for Afam Power Plc and 11 for Kaduna Distribution Company.
According to the Bureau, at the expiration of the deadline of January 31, 2013 for the submission of Expressions of Interest, EOIs, it received 19 applications for Kaduna Disco and 29 applications for Afam Generation Company. Following this, it sent Requests for Proposals, RFP, to the 48 prospective bidders on February 4, 2013.
Kaduna Electricity Distribution Company and Afam Power Plc are among the 17 PHCN successor companies that were earlier advertised for sale in December 2010 but following the rigorous technical evaluation that all bids were subjected to, none of the bids received for the two assets scored the minimum 75 percent required to progress to the financial bid stage.
Consequently, the National Council on Privatisation, NCP, had to order a re-run of the entire transaction.
The pre-due diligence conference for the re-tender of Afam Power Plc and Kaduna Electricity Distribution Plc was held in Abuja on Monday, March 4, 2013.