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07.10.2017 Business & Finance

ECG Privatization: 2nd Bidders’ Conference Held

By CitiFMonline
ECG Privatization: 2nd Bidders’ Conference Held
LISTEN OCT 7, 2017

Citi Business News has gathered that the Millennium Development Authority(MiDA), which is supervising the privatization of the Electricity Company of Ghana(ECG), will finalize its meeting with the six companies bidding for the power company today [Saturday].

The purpose of the meeting is to give the six companies an opportunity to ask and receive responses to questions from government, as well as parties on the draft Request for Proposal document.

Speaking earlier at a press conference, the Minister for Energy, Boakye Agyarko, explained that the second meeting will enable government to evaluate the bids of the six companies to choose one.

“As scheduled, the second bidders' conference will come off. I can assure you that it will be held in early October,” he said at the time.

On his part, Ing. Owura Sarfo, CEO of MiDA , said the conference is necessary to meet crucial timelines.

“This is a very significant milestone in the process. The goal has remained the same, to procure a Concessionaire who would not only inject the required financial investments ECG needs, but also introduce modern technology and efficiency strategies that would turnaround the operational and financial fortunes of ECG,” he said.

Each Applicant will meet with the GoG team made up of officials from the Ministries of Finance, Energy, Justice and Attorney General's Department, Public Utilities Regulatory Commission (PURC), Energy Commission (EC), ECG, and MiDA.

Ing Sarfo explained that “the meetings have been planned to ensure that all clarifications and questions from each Applicant is adequately addressed, and everyone is on the same footing as we proceed to the remaining stages of the procurement process.”

Citi Business News has gathered that, the six concessionaires bidding to takeover the operations of the Electricity Company of Ghana are currently in Accra holding a conference.

The 6 concessionaires
The delegation includes Manila Electric Company from Philippines, CH Group from Ghana,/ EDF SA/LMI Holdings/Veolia SA, BXC Company Ghana Ltd, and Xiaocheng Technology Stock Company Limited from China.

The rest are Shaanxi Regional Electric Power Group Company Limited from China, the Tata Power Company Limited from India and CDC Group Plc from UK.

Meanwhile, the Public Utility Workers Union (PUWU), has filed a writ at an Accra High Court for declaration and clarification of section 55 of the labour Act as part of their demand for redundancy pay for ECG workers.

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