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Syed Naveed Qamar Federal Minister for Privatisation will chair a pre bid
meeting for the privatisation of National Power Construction Company (NPCC) on
March 28, 2009 (Saturday) at 10 a.m in the conference room of the
Privatisation Commission Secretariat, Islamabad.
The interested parties for NPCC, which have completed the process of due
diligence of the transaction include 1. Pak Elektron Limited (PEL), 2. ICC (pvt)
Limited, 3. Al-Tuwariqi Steel Mills, Karachi, 4. Saudi Cable Company Limited,
KSA, 5. Alfanar Construction Company, KSA and 6. Zad Investment Company, KSA.
The pre-bid moot will deliberate upon the process of the privatisation of NPCC
and responded to the queries of the prospective bidders for the privatisation
of NPCC. The transaction is now at a very advanced stage. The next phase of
finalization of bid documents and the open bidding schedule for NPCC would
also be completed in consultation of the bidders.
The Privatisation Commission (PC) had invited Expressions of Interest (EOI)
from financially sound local and foreign investors with management capability,
contracting experience as well as experience of electrical wire installation
interested in acquiring 51% interest in NPCC along with management control as
already approved by the Cabinet Committee On Privatisation (CCOP).
National Power Construction Corporation (Pvt) Limited (NPCC) is a specialist
contracting company of Pakistan for construction and management of turnkey
power projects including 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
over US$ 600 million.