The Privatisation Commission has formally invited expressions of interest to bid for a 26 per cent stake with management control in the 880-MW Jamshoro power station. A prequalification list will be drawn up before final bids are invited.
The Privatisation Commission says it has already received informal expressions of interest from local and international groups and from unsuccessful bidders for a stake in the Kot Addu power station. National Power of the UK was selected as preferred bidder for Kot Addu. Other bidders were Southern Electric of the US, AED Consortium, led by CMS Energy Corporation of the US and British Gas. Mission Energy, also of the US, has expressed interest in Jamshoro, the Privatisation Commission says.
Following the successful bidding for the Kot Addu power station, the Privatisation Commission says it is considering the possibility of selling a larger stake than the 26 per cent currently on offer. The commission may offer more to prequalified bidders if there is sufficient interest. The financial adviser for the sale is CS First Boston (MEED 3 5 96)