Privatisation Commission Extends Dates for National Power Construction Corporation Expression of Interest, Statement of Qualifications

Islamabad: On the request of prospective investors for Extension in Dates for Submission of Expression of Interest (EOI) and Statement of Qualifications (SOQs) for National Power Construction Corporation (NPCC), the Privatisation Commission (PC) has extended the deadline for submission of Expression of Interest (EOI) no later than 1700 hours on October 1, 2011.

Subsequently the deadline for submission of Statement of Qualification (SOQ) to the PC has been extended to no later than 1700 hours on October 15, 2011. Investors interested in joining the process are requested to submit an Expression of Interest (‘EOI’) by the extended date.

The Privatisation Commission (“PC”) had invited Expression of Interest (“EOI”) from prospective investors with demonstrable ability to acquire and efficiently manage the National Power Construction Corporation (NPCC) through the acquisition of minimum 88% shareholding in NPCC currently owned by the Government of Pakistan.

The successful bidder will be required to continue to operate the Company as a going concern. Up to 12% shares are allocated for employees of NPCC through the Benazir Employee Stock Option Scheme (“BESOS”).

National Power Construction Corporation (Private) Limited (“NPCC”) is incorporated in Pakistan and is engaged in the execution of power engineering projects such as extra high voltage transmission lines, power generation plants, industrial electrification and external lighting of housing complexes, etc. in the Kingdom of Saudi Arabia (“KSA”), Pakistan and other Middle Eastern countries.

NPCC’s services include survey, design, material procurement, installation/erection and commissioning of projects. NPCC’s operations in the KSA and Middle East are carried out by NPCC’s branch office.

PC has asked the interested parties to submit EOIs (in duplicate) together with a non-refundable processing fee of US$ 5,000/- or PKR 425,000/- All the parties which shall submit EOI would be dispatched a Request of Statement of Qualification (RSOQ).

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