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Thursday, March 21, 2013

PHCN: All 15 bidders meet deadline, pay $590.44m

 
As the deadline for the payment of the 25 per cent of offer value for the 15 successor companies of the Power Holding Company of Nigeria (PHCN) expired Wednesday, the Bureau of Public Enterprises (BPE), on Thursday announced that all 15 bidders have fulfilled the obligations.
A statement by the BPE said a total of $590,445,73.96 was paid as 25 per cent of the value of the Distribution Companies, (DISCOs) and Generation Companies (GENCOs).
A breakdown of the amount received showed that the Bureau received $31 million from 4Power Consortium, for Port-Harcourt Distribution Company; $31.5 million from Interstate Electrics Limited for Enugu Distribution Company; and $27,913,633.50 from North-South Power Company for Shiroro Power Plc.
Earlier, Vigeo Consortium, the preferred bidder for Benin Distribution Company, had paid $32.25 million; Transcorp/Woodrock Consortium paid $75 million for Ughelli Power Plc; CMEC/EUAFRIC Energy JV, paid $50,249,965 for Sapele Power Plc; while Kann Consortium paid $41 million for Abuja Distribution Company. The BPE also announced receipt of $20,464,968.15 from Aura Energy, for Jos Distribution Company; $59,467,500 from Mainstream Energy Limited for Kainji Power Plc; while Sahelian Power SPV paid $34.25 million for Kano Distribution Company.
 

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