Power Holding Company of Nigeria (PHCN) Assets
Oando Bids,Others bid
Oando and Honeywell Energy Resources are among the 54 companies that have tendered their request to Nigeria’s Bureau of Public Enterprise (BPE) to buy the eleven distribution companies from the government’s unbundling of Power Holding Company of Nigeria (PHCN).
The BPE said in a statement that the companies met the July 31 deadline for the submission of technical and financial proposals for the privatization of the eleven distribution companies. The statement also said that other companies who met the deadline included Skipper Nigeria Ltd., NAHCO Power Consortium, KANN Consortium Utility Co. Ltd, Interstate Electrics Ltd., and ENL Consortium Ltd. Others are Southern Electricity Distribution Co., Cable & Rods Co. Nigeria Ltd., Copper Belt Consortium; Rockson Engineering Co. Ltd., RENSMART Power Ltd., Duncan Freeman Company/Draytom Energy Ltd., and Vigeo Power Consortium.
Prospective core investors, who must be local and/or international power distributors or investors with power distributors as technical partners, will be responsible for operating the distribution companies, making the necessary investments to improve the distribution network and customer service in line with the objectives of the government.
An evaluation of the technical bids will take place between August 14 and 28. The National Council on Privatisation (NCP) will approve the results of the technical evaluation by September 11.
The deadline for the shortlisted bidders for generation companies to submit their letters of credit is September 18, while October 2 is the deadline for shortlisted bidders for distribution companies.
The BPE will open the financial bids of prospective investors for the generating companies on September 25 and October 10 is the date for the opening of the financial bids for the distribution companies. The announcement of the preferred bidders for the generating companies is October 9 while October 23 is the date for the announcement of the preferred bidders for the distribution companies.