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October 7, 2012

Tata Power bided for three Nigeria discoms which requires investment of USD 900 Mn…

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Tata Power’s Delhi Distribution arm (TPDDL) has recently bided for three (3) power distribution companies in Nigeria by forming two (2) consortiums with two leading companies of the African nation which will require investment of around USD 900 Mn (Rs. 1,560 Crore).

 

 

 

 

Details of the transaction are as follows…

  • The Nigerian government had decided to privatise 11 state-owned distribution companies as part of reforming the power sector.
  • Nigeria's Bureau of Public Enterprise (BPE), which has been tasked to carry out the reform process, has adopted the 'Delhi model' to privatise its power distribution sector.
  • Around 54 companies had bid for these companies.
  • 21 firms including TPDDL have cleared the technical evaluation process.
  • TPDDL has bided for
    1. Eko and Ikeja discoms as a consortium member of Oando
    2. Benin Discom a consortium member of Viego Holding Ltd
  • TPDDL has the option of acquiring up to 51 per cent stake in the consortiums over a period of time.
  • Other companies which cleared the technical qualification round are Honeywell, Integrated Energy, West Power and Gas, Rensmart Power and Rockson Engineering etc.

 

If won, Tata Power will be the first Indian Discom to get into power distribution company in a foreign country.

 


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