Business News Mon, 26 Mar 2018

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Bidders for ECG concession drops to two

Citi Business News can confirm that the number of bidders for the private sector participation in the Electricity Company of Ghana (ECG) has dropped to two.

The latest follows the close of submission of request for proposals today, March 26, 2018.

A statement from the Millennium Development Authority (MiDA) and copied to Citi Business News said that at the close of the submission, two companies namely; BXC Ghana and Manila Electric Company (MERALCo) had submitted their bids.

It is interesting to note that French electricity conglomerate EDF and French transnational company Veolia, together with their local partners CH Group, did not put in bids for the private participation.

The businesses had raised concern over the 51 percent local stake in the new entity.

It is unclear what led to their latest decision.

Meanwhile MiDA says the evaluation of the bids is expected to be completed in April 2018.

Source: citibusinessnews.com

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