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The FG has handed over the Afam Power Plant to TransCorp
- Alex Okoh of BPE handed over the power plant on behalf of the FG
- TransCorp Power Consortium won the bid for the plant
The Bureau of Public Enterprises (BPE) has formally handed over the Afam Power Plant Plc to the bid winners TransCorp Power Consortium. The ceremony took place at the Office of the Vice President in Abuja. TransCorp Power Consortium was the preferred bidder for the power plant.
The winning bid was to the tune of N105.3 billion naira. TransCorp on Friday paid a 25% cash deposit of the total bid amount on Thursday, 26th November. In 2019, the Bureau had commenced a competitive bid process for the sale of Afam Power Plant. This was following the failure of the previous bidding exercise.
The Chairman TransCorp Consortium, Tony Elumelu expressed gratitude for the opportunity to become a stakeholder in the very critical subsector of the electricity value chain. He assured of the company’s commitment to the developing the host community and ensuring the contribution to stable and reliable electricity in the nation.