BPE receives 20 bids for Afam, Kaduna DISCO
The Bureau of Public Enterprises (BPE) has received 20 bids by prospective investors for the Afam Power Generation Company (Genco) and Kaduna Electricity Distribution Company (Disco).
The BPE, in a statement, said nine bids were received for Afam Power Plc and 11 for Kaduna Distribution Company.
BPE also said that at 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. Consequently, on February 4, 2013, it sent Requests for Proposals (RFP) to the 48 prospective bidders.
Afam Power Plc and Kaduna Electricity Distribution were 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. 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.