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Transcorp Wins Bid For Afam Power Plant.

TRANSCORP Power Consortium Tuesday emerged preferred bidder for the privatisation of Afam Power Plant, Ugheli at a price of N105.3billion.

A member of Technical Committee of the National Council on Privatisation (NCP), Dr Ayo Teriba who presided over the ceremony also announced at the end of the exercise in Abuja that the runner up bid was submitted by the Diamond Stripes for N102.4billion.

Also on Tuesday, Quest Electricity as the sole bidder won the right to acquire Yola Electricity Distribution Company (YAEDC) with its offer of N19 billion.

Teriba said although Sandstream Nig Limited and Quest Electricity Ltd were in the race for the acquisition of Federal Government 60 per cent stakes in YEDC, Sandstream was disqualified for not submitting a bank guarantee alongside the commercial proposal as required by the Bureau of Public Enterprises (BPE).

BPE advertised for expression of interests in the two entities on August 16, 2018.

Director-General, BPE, Mr Alex Okoh in his address noted that during the evaluation of the expression of interest, nine firms obtained the qualifying marks and were consequently shortlisted to the request of proposal stage.

He noted that only two firms, Quest Electricity Nigeria Limited and Sandstream Nig Limited were qualified for the Yola Disco.

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Publication:Nigerian Tribune (Oyo State, Nigeria)
Date:Apr 30, 2019
Words:244
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