Interested firms will have about a month to submit their details and bid documents are then expected to be issued to prequalified companies about six weeks later. An award is scheduled by the end of 2003. The prequalification will be open to the 16 companies that have already registered their interest after an initial call for interest in late 2002, as well as those that have not.

The privatisation will take place in stages. Under the first stage, a private company will take a 40 per cent stake in a new operating company. The public/private joint venture will own 100 per cent of the power generation and distribution assets, with the private sector partner taking management control of the assets. Under a separate management contract the successful bidder will also have management control over the transmission network, which will remain state-owned.

Details of subsequent stages are being kept under wraps but it is understood that officials from BNP Paribas,which is advising the government on the privatisation, met Prime Minister Rafiq Hariri, Energy Minister Ayoub Humayed and the HCP on 22 May to present technical details and recommendations. The appointment of Humayed in the cabinet reshuffle on 17 April is widely expected to speed up the privatisation, which has been delayed by political infighting in Beirut (MEED 25:4:03).