PC receives 7 fresh EOIs for privatisation of NPCC
By Adnan Rafique

ISLAMABAD—Privatisation Commission has received seven fresh Expression of Interests (EOI) from the interested parties for the privatisation process for acquisition of controlling interest or joint venture of the National Power Construction Corporation (Pvt) Limited (NPCC) transaction, a Leading Power Projects Construction Company of Pakistan with Major Operation in Middle East/Saudi Arabia.
The parties, which have submitted fresh EOIs, include 1. Arabian Construction Co. Pakistan (Pvt), Limited, 2. Gulf Consortium a Joint Venture of Aljomaih Group (Saudi Arabia), Central China Power Group and ELBA International & Associates (Pakistan), 3. JS PE Management Limited (Pakistan), 4. Noor Financial Investment, 5. Saudi Cable Company Marketing (Saudi Arabia), 6. Sinotec (China) and 7. Al Tuwairqi Group (Saudi Arabia).
Among these companies five parties have also submitted Statement of Qualification (SoQ) within the stipulated period that include 1. Arabian Construction Co. Pakistan (Pvt), Limited, 2. Gulf Consortium a Joint Venture of Aljomaih Group(Saudi Arabia), Central China Power Group and ELBA International & Associates (Pakistan), 3. JS Private Equity Fund I LLC (“JSPE” or “Fund’), 4. Saudi Cable Company Marketing (Saudi Arabia) and 5. Al Tuwairqi Group (Saudi Arabia).
In addition to these fresh EOIs and SOQs received three of the four potential bidders, which were pre-qualified earlier as a result of previous invitation, have reaffirmed their interest in the transaction, which include 1. ICC (Pvt) Limited, Pakistan; 2. Sachal
Engineering Works (Pvt) Limited, Pakistan; and 3. Pak Elektron (Pvt) Limited, Pakistan.
The Privatisation Commission (PC) Board has constituted a six member Committee for the pre-qualification of the parties for taking part in the privatisation process of National Power Construction Corporation Limited (NPCC). The Committee is headed by Mr. Iftikhar ul Haq, Member PC Board with Mr. Mahmood Nawaz Shah, Member PC Board and senior representative of Ministry of Water and Power, Finance Division, Planning & Development Division and Privatisation Commission.
The Privatisation Commission (PC) had invited Expressions of Interest (EOI) from financially sound local and foreign investors with management capability, contracting experience as well as experience of electrical wire installation interested in either acquiring 51% interest in NPCC along with management control or a Joint Venture with the Government.
National Power Construction Corporation (Pvt) Limited (NPCC) is a specialist contracting company of Pakistan for construction and management of turnkey power projects including extra high voltage transmission lines, distribution networks, substations, power generation plants, industrial electrification, external lighting of housing complexes etc. NPCC’s major area of operation during the last three decades had been in the Middle East with concentration in Saudi Arabia. NPCC has successfully secured and completed projects valuing over US$ 600 million.