Transcorp Consortium named winner in bid for Afam Power

Aerial view of the Afam Power Plant during the Hon. Minister of Power, Works & Housing, Mr Babatunde Fashola, SAN inspection tour of the Afam Power Plant in Portharcourt, Rivers State on Thursday 8, June 2017.
Aerial view of the Afam Power Plant during the Hon. Minister of Power, Works & Housing, Mr Babatunde Fashola, SAN inspection tour of the Afam Power Plant in Portharcourt, Rivers State on Thursday 8, June 2017.

The National Council on Privatisation (NCP) on Tuesday declared Transcorp Power Consortium as the winner of the financial bid for the privatisation of Afam Power Plc.

The chairman of the technical committee of the NCP, M.K. Ahmed, announced Transcorp Consortium the winner, with an offer of N105.3 billion. It beat Diamond Stripes which placed an offer of N102.4 billion to the runner up spot.

The Chief Executive Officer, Economic Associates, Ayo Teriba, who represented the NCP Chairman, said the first runner up bidder was also the reserve bidder “in case the winner fails to meet the payment deadline.”

Quest Electricity, which was the sole bidder for Yola Electricity Distribution Company (YAEDC), emerged winner of the bid with an offer of N19 billion.

Support PREMIUM TIMES' journalism of integrity and credibility

 

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate


NEVER MISS A THING AGAIN! Subscribe to our newsletter

* indicates required

DOWNLOAD THE PREMIUM TIMES MOBILE APP

Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application

TEXT AD: This space is available for a Text_Ad.. Call Willie on +2347088095401 for more information


All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.