110 investors express interest in 10 Niger Delta power plants

No fewer than 110 investors on Friday in Abuja expressed interest in
the 10 power plants of Niger Delta Power Holding Company Limited,
currently under construction.
James Olotu, the Managing Director of NDPHC, made this known at a news conference.
Olotu said the plants are Alaoji Generation Company Nigeria Limited,
Benin Generation Nigeria Limited, Calabar Generation Nigeria Limited,
Egbema Generation Company Nigeria Limited and Gbarian Generation
Company Limited.
The others are Geregu Generation Company Limited, Ogorode Generation
Limited, Olorunsogo Generation Company Limited, Omoku Generation
Limited, and Omotoso Generation Company Limited.
He said the envelopes for the 110 expression of interest had been
collated for the 80 per cent shareholding divestment of the power
station infrastructure currently being delivered by NDPHC.
Olotu said the collection of bids closed at 5 p.m. at the NDPHC
headquarters and the Bureau of Public Enterprises office in Abuja
which were the two designated centres for submission of bid envelopes.
The opening of the bid envelops would be done on Monday under security cover, after which they would be analysed, he added.
Olotu said the bid transaction would be completed in January, while
the physical transfer of assets would be done later in 2014.
The managing director said five out of the 10 power stations had
reached 95 per cent completion while one had attained 90 per cent
completion with the remaining four at 85 per cent completion.
Olotu gave the assurance that the NDPHC would complete construction of the 10 plants before handing them over to successful bidders.
The project was initiated in 2004 by former President Olusegun
Obasanjo as part of efforts by the Federal Government to boost power
supply in the country.