PC INVITES EOI FOR APPOINTMENT OF FINANCIAL ADVISOR FOR NPCC

 

Islamabad, June 24, 2010

The Privatisation Commission has invited Expression of Interest (EOIs) for appointment of a qualified Financial Advisor (FA) having support of legal experts to assist the GOP in privatising NPCC from the Firms well versed with power sector and related construction business environment in which NPCC is operating. The last date for submission of EOIs is July 9, 2010. The “Request for Proposal” or “RFP package” inviting Technical and Financial Proposals would be dispatched / emailed immediately, upon receipt of EOIs. The last date for submission of Technical and Financial Proposals in separately marked envelopes is July 16, 2010.

The Government of Pakistan (GOP) is considering the privatisation of National Power Construction Corporation (Pvt.) Ltd. (NPCC), which is a wholly owned GOP Company. NPCC was established in 1974 under Companies Act 1913 (replaced by Companies Ordinance 1984) by the Government of Pakistan and is working under the administrative Control of the Federal Ministry of Water and Power. The Company is engaged in contracting business in the specialty of Turnkey execution of Power Projects specifically Extra high Voltage Transmission Lines. The entire business of NPCC is currently being carried out in Saudi Arabia where it has a branch office in the name and style of NPCC (Pakistan) Limited; registered under Foreign Capital Investment Regulations.

The Financial Advisor’s responsibilities, inter alia will include: (a) detailed due diligence and review of operational, financial, legal, contractual, regulatory, labor and other institutional aspects of NPCC; (b) advise on the transaction structure for private sector participation; (c) preparation and implementation of the marketing plan; and (d) development of appropriate legal and contractual agreements, preparation of bid documents, post bid evaluation and close of transaction.