At the deadline of Tuesday, April 16, 2013 for the submission of bids by prospective investors for the Afam Power Plc and Kaduna Distribution Companies, the Bureau of Public Enterprises (BPE) received 20 bids.
A break down shows that nine bids were received for Afam Power Plc and 11 for Kaduna Distribution Company.
Recall that at the deadline of January 31, 2013 for the submission of Expressions of Interest (EOIs) from prospective bidders for the two companies, BPE received 19 applications for Kaduna Disco and 29 applications for Afam Generation Company.
Consequently, the Bureau, on February 4, 2013, sent Requests for Proposals (RFP) to the 48 prospective bidders.
It would be recalled that Afam Power Plc and Kaduna Electricity Distribution Plc were among the 17 PHCN successor companies that were earlier advertised for sale in December 2010 along with the 15 other PHCN Successor Companies that went through a full competitive tender process which culminated in the submission of technical and financial proposals in July 2012.
However, following the rigorous technical evaluation that all bids were subjected to, none of the bids received for Afam Power Plc and Kaduna Electricity Distribution Plc scored the minimum 75% required to progress to the financial bid stage. This development compelled the National
Council on Privatisation (NCP) to order a re-run of the entire transaction as it was not prepared to settle for a second best.
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.
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