Following the successful payment of the acquisition balance of the unbundled power firms, the Bureau of Public Enterprises (BPE) said it will hold a consultation with purchasers of Power Holding Company of Nigeria (PHCN) successor companies today, a document revealed.
This would be the first meeting with the successor companies after BPE confirmed payment for most of them last month.
A BPE source in the document said the privatisation exercise has advanced with payment completion by the successor power firms. “Our fears over abilities of most core investors have been allayed with what has been paid so far,” he added.
Meanwhile the document had revealed that Interstates Electrics, the investor in the Enugu Electricity Distribution company (Disco), had proposed to invest N12.8 billion to reduce technical/system losses over the next five years.
It would be recalled that transfer of ownership of the Enugu Disco to Interstate Electrics is yet to be initiated following its inability to meet up with the complete payment deadline of August 21. This has further generated questions as to its viability in managing the Disco if fully acquired.
A BPE source in the document said the privatisation exercise has advanced with payment completion by the successor power firms. “Our fears over abilities of most core investors have been allayed with what has been paid so far,” he added.
Meanwhile the document had revealed that Interstates Electrics, the investor in the Enugu Electricity Distribution company (Disco), had proposed to invest N12.8 billion to reduce technical/system losses over the next five years.
It would be recalled that transfer of ownership of the Enugu Disco to Interstate Electrics is yet to be initiated following its inability to meet up with the complete payment deadline of August 21. This has further generated questions as to its viability in managing the Disco if fully acquired.
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