Power company consultant assures investors of safety of funds

The Federal Government started privatization of 10 NIPP power plants on June 4.

The Transaction Adviser on privatisation of the Niger Delta Power Holding Company, NDPHC, Arif Mohiuddin, has assured prospective investors in the projects of safety of their funds.

“Investors should seize the opportunities in the ongoing power sector privatisation to grow because all the host states of power plants here are safe for investment. Willing investors should invest massively to reap massively,” Mr. Mohiuddin said on Tuesday in Lagos.

The Federal Government started the privatization of 10 National Integrated Power Projects, NIPP, power plants across the country on June 4.

The power plants are: Olorunshogo phase II (125MW/Ogun State), Ogorode (451MW/Delta State), Gbarain (225MW/Bayelsa State), Alaoji (1074MW/Abia State), and Ihovbor (451MW/Edo State).

Others are Calabar (561MW/Cross River State), Egbema 338MW/Imo State), Geregu (434MW/Kogi State), Omotosho (500MW/Ondo State), and Omoku (250MW/Rivers State).

Mr. Mohiuddin said that prospective investors should be in regular contact with governors of the states where they were bidding for any of the power plants.

He said that submission of Expression of Interest, EOI, for the power plants would lapse on July 17 after which a bidders’ conference would be held on September 18. He said that submission of bids and proposals for the power plants would close on April 8, 2014.

“We will announce the qualified bidders in January of 2014. The final hand over of the plants is expected to happen between June and July of 2014,” he added.

The NIPPs generation capacity is in excess of 5,453mega watts.

(NAN)


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