The Privatisation Commission (PC) has invited Expressions of Interest (EOIs) from investors, companies and consortia worth $100 million with demonstrable experience in management, rehabilitation, operation and maintenance of power generation facilities for concession on "lease basis" of the facilities and assets of Jamshoro Power Company Limited (JPCL) for a period of 15 years.
According to a statement, the prospective investor will be required to rehabilitate the generation facilities to their 'name-plate-rated' capacity. All parties submitting EOIs will be provided Preliminary Information Memorandum (PIM) and Request for Statement of Qualification (RSOQ). Facilities of JPCL shall not be used for any purpose other than power generation, and the investor shall ensure the continuity of power supply to the national grid.
The RSOQ, inter-alia, will include details on eligibility criteria and bases of disqualification. The PC will provide updated information relating to terms and conditions of the 'lease' to all investors qualified in terms of the Privatisation Commission's RSOQ, prior to the bid date.
JPCL is a company of Pakistan Electric Power Company Limited (Pepco) under the administrative control of Ministry of Water & Power. JPCL operates two electricity generation facilities. Jamshoro is a 880 MW gas & furnace oil fired power plant comprising of four units located at 165 km north coast of Karachi and 18 km from Hyderabad.
The Kotri facility, comprising seven units, has 174 MW capacity, gas fired and is in the vicinity of Hyderabad. The company has sales of about Rs 22 billion and has total assets of Rs 17.8 billion. The potential parties have been asked to submit their EOIs (in duplicate) along with a non-refundable processing fee of US $2,000 or PKR 160,000 by Saturday, March 25, 2009.
The EOI should also provide name of company, nature of business, experience of power generation, O&M and other background information, along with copies of constitutive documents, evidence of financial soundness supported by audited financial statements, duly certified by a firm of Chartered Accountants, for the latest financial year, list of director(s) and other required details.