[ 2017-05-23 ]

MIDA sets eyes on financially viable bidder for ECG concession

ECG concession: bidders reduced to 6; MIDA sets eyes on financially viable bidde
The Millennium Development Authority (MIDA) has
assured Ghanaians that it will select a
financially viable concessionaire for the
Electricity Company of Ghana (ECG). This was made
known at the first bidders’ conference held in
Accra to take bidders through the processes and
requirements involved in the concession of the
ECG.

The ECG has been riddled with lot of challenges
including financial and managerial, and the
concession programme forms part of measures to
review the company. Per the agreement, government
will have a 51 percent stake, while the
concessionaire takes 49 percent.

About 140 companies tendered in their bids to
manage ECG out of which 11 were shortlisted.
Meanwhile the government has reduced the number
further down to 6 whose documents are being
considered that would lead to the selection of one
bidder.

Speaking to the media at the conference, chief
executive officer of MIDA engineer Owura Sarfo
says the authority will do due diligence in
selecting a concessionaire that has the financial
muscle to turn the fortunes of the power
distributor around.

He said “Each of them will need to demonstrate
by their documents that they have the capacity,
and that will be evaluated by the evaluation
committee. We know the si

tuation at stake and we will make sure that
whoever is selected can perform”. “The right
person with the sound financial standing will be
selected”, he added. He added that the contract
will be subjected to yearly review for effective
performance.

“We have a number of performance indicators that
the concessionaire will have to meet. At the end
of every year the contract will be reviewed as
well as the end of every year 5 year”, he
stated.

Mr. Owura Sarfo said, “There will be sanctions
if they do not perform according to what has been
agreed”.

Source - 3news.com

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