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The Privatisation Commission has received ten Statement of Qualification (SOQ)
from qualified strategic investors for acquiring 51 % interest in National
Power Construction Corporation (NPCC) including the management control. The
investors with experience in handling large power projects on turnkey basis or
consortia preferably in partnership with financially sound Pakistani companies
interested in the transaction were asked to submit their interest and SOQ
latest by March 20, 2006. NPCC is a leading Power Projects Construction
Company of Pakistan with major operation in Middle East/ Saudi
Arabia.
The companies who have submitted SOQ include 1. Consortium of Energy Saving
Solution Inc, Pakistan, 2. ICC (Pvt) Limited, Pakistan, 3. Consortium of K.A.
Juffali Company (Saudi Arabia and Habib Oil Mills Limited (Pakistan, 4.
Mansoor Al Mosaid Co. Saudi Arabia, 5. Consortium of Nazir & Company Limited,
Pakistan, 6. Consortium of Pak Elektron Limited (Pakistan & Burhan Oil
Services CO. KSCC (Kuwait), 7. Consortium of Paragon City (Pvt) Ltd, Pakistan,
8. Sachal Engineering Works Ltd, Pakistan, 9. Saudi Economic & Development Co.
Ltd, Saudi Arabia and 10. Consortium of Technical Associates Pakistan (Pvt)
Ltd, SKB Pakistan and Individual Investors.
On the basis of the information provided through SOQ, the parties will be
pre-qualified for entry in the data room for due diligence targeted for April
30, 2006, which will be followed by bidding to complete the transaction.
NPCC currently rated amongst top contractors, is a specialist contracting
outfit for turnkey management of Power Projects i.e. Extra High Voltage
Transmission Lines, Distribution Networks, Substations, Power Generation
Plants, Industrial Electrification, External Lighting of Housing Complexes
etc. NPCC's major area of operation during the last three decades had been in
the Middle East with concentration in Saudi Arabia. NPCC has successfully
secured and completed projects valuing US $ 600 million.