February 24, 2006	Friday	Muharram 25, 1427

ISLAMABAD, Feb 23: The Privatization Commission has extended the date for the submission of expression of interest (EoI) and statement of qualification (SoQ) for the privatization of National Power Construction Corporation (Pvt) Ltd (NPCC) up to March 20.

The commission has extended the deadline keeping in view the increasing interest of parties to participate in the NPCC transaction, stated an official announcement issued here on Thursday.

The Privatization Commission had earlier invited the EoI and SoQ in the middle of October last year from qualified strategic investors with experience of handling similar large power projects being handled by NPCC on a turnkey basis or consortia preferably in partnership with financially sound Pakistani companies interested in acquiring 51 per cent interest in NPCC including the management control.

“The government may also offer a certain percentage of ownership of NPCC in case parties are interested,” the announcement added.

NPCC, currently rated amongst top contractors, is specialist contracting outfit for turnkey management of power projects i.e. extra high voltage transmission lines, distribution networks, sub-stations, power generation plants, industrial electrification, external lightening 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. It has successfully secured and completed projects valuing $600m.

Interested parties have been asked to furnish their EoIs along with a brief profile of their companies and a non-refundable processing fee of Rs50,000.

Parties, which have already submitted EoIs need not apply afresh. The parties, which have submitted the EoIs but not SoQ, can submit the new SoQ. The parties with relevant credentials, which submit an EoI, would be dispatched a request for SoQ.

The early submission of EoIs would allow parties maximum time for completion of their SoQ requirements. The SoQ must be submitted to the Privatization Commission not later than March 20, 2006.