Business News Thu, 22 Mar 2018

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ECG privatisation on track – MiDA

The management of the Millennium Development Authority (MiDA) has stated emphatically that the process to privatise management of the Electricity Company of Ghana is on course.

The Authority in a statement signed by Pamela Djamson-Tettey, Director, Communication and Outreach, MiDA, discounted claims that the process is in jeopardy.

“The Management of the Millennium Development Authority (MiDA) has noted with concern unfounded comments relating to the ECG Private Sector Participation (ECG PSP) process by certain persons,” the statement said.

It therefore stated, “MiDA wishes to state categorically that the ECG PSP process is on track, and that the Ghana Power Compact (Compact 2), of which the ECG PSP Activity forms a part, is not in jeopardy. The Bidding process for the ECG PSP is ongoing”.

The statement explained that MiDA had granted a month’s extension as requested by the bidders in January 2018, which it saw it necessary to give bidders sufficient time to conduct due diligence and prepare their proposals.

“Consequently, MiDA is pleased to confirm that the deadline for submission of Proposals by bidders remains March 26, 2018.”

Source: 3news.com

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