The Bureau of Public Entreprises (BPE) has approved 42 companies to bid for 10 National Integrated Power Plants (NIPP) in the country.
The BPE said in a statement signed and issued on Monday in Abuja by its Head, Public Communications, Mr Chigbo Anichebe, that the bid would take place on March 7.
It stated that the decision was reached at a recent joint meeting of the National Council on Privatisation (NCP) chaired by Vice-President Namadi Sambo, and the Governing Board of the Niger Delta Power Holding Company (NDPHC).
“At the meeting of the opening of the financial bids, 42 pre-qualified bidders out of 66 bidding consortia for the 80 per cent equity in the 10 NIPP power plants was approved.
“The 42 pre-qualified bidders met the criteria set in the Requests For Proposal (RFP), and passed the due diligence verification conducted on technically qualified bidders.’’
According to the statement, 66 proposals were earlier received on Nov. 8, 2013 from prospective investors interested in the 10 NIPP plants, but were short-listed to 42.
“An inter-agency evaluation team, including security agencies met from Nov. 12 to Nov. 22, 2013 to evaluate the proposals.
“The evaluation report was subjected to scrutiny of the Joint Transaction Committee and the Joint Technical Transaction Committee before approval by the Joint NCP/NDPHCN Board meeting.’’
It was stated that in order to be deemed technically qualified, bidders must meet the financial and quality of business plan that was set out by the committee on privatisation.
The 10 power plants for privatisation are Alaoji, Benin, Calabar, Egbema, Gbarain, Geregu, Ogorode, Olorunsogo, Omoku and Omotosho.