NPCC privitization likely to be finalized in June

The open bidding of Pakistan's National Power Construction Corporation is expected to take place in June.

At least five foreign and local companies had been succeeded to pre-qualify for the open bidding for the acquisition of minimum 88 percent shareholding of NPCC.

The pre-bid conference that has been held on March 21 had decided to complete the transaction of NPCC before the end of current financial year. The government of Pakistan is expecting to earn $ 50 million by the sale of NPCC.

Earlier ten foreign and local interested parties have submitted Expressions of Interest for the transaction structure of NPCC out of which parties found financially and legally eligible will participate in the bidding process.

The Cabinet Committee on Privatization and PC board have already approved the privatization of Transaction Structure of NPCC.

The successful bidder will be required to continue to operate the Company as a going concern.

NPCC’s services include survey, design, material procurement, installation/erection and commissioning of projects.

For more.

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