FESCO Privatisation: 10 Bidders Prequalified, Names Revealed
Pakistan News DeskAuthor
UsamaEditor✓3Verified Sources
At a glance
- 10 of 12 bidders have been prequalified for Faisalabad Electric Supply Company (FESCO) privatisation.
- Prequalified parties include three Turkish firms and major Pakistani consortiums.
- Bidders will now proceed to the due diligence stage via a Virtual Data Room.
Story so far
The government is proceeding with the privatisation of the Faisalabad Electric Supply Company (FESCO). The Privatisation Commission Board has approved 10 out of 12 interested parties to move to the next stage. K-Electric withdrew its bid, and a Chinese firm was disqualified. The 10 prequalified bidders, which include Turkish and Pakistani firms, will now conduct due diligence before bidding.
Latest development
The Privatisation Commission has revealed the names of the 10 parties prequalified to bid for the Faisalabad Electric Supply Company (FESCO). The list includes three Turkish firms and several major Pakistani companies and consortiums, such as Engro Energy, Hub Power, and Sapphire Fibres.
Latest updates
The Privatisation Commission has approved and named the 10 parties that have been prequalified for the privatisation of the Faisalabad Electric Supply Company (FESCO). The board approved the list during its 258th meeting.
The prequalified bidders are:
- Aktor Elektrik Enerji Yatirimlari San. Ve Tic. A.S. (Turkiye)
- Genvera Enerji A.S. (Turkiye)
- Cengiz Enerji Sanayii VeTicaret A.S. (Turkiye)
- Engro Energy Limited
- Sapphire Fibres Limited
- Hub Power Holdings Consortium (Lucky Cement, Kohat Cement and Metro Ventures)
- Shirazi Investments (Pvt) Limited
- Maple Leaf Cement Factory Limited Consortium (Kohinoor Textile Mills)
- Pakgen Limited Consortium (Nishat Mills, Nishat Power, Nishat Chunian, Lalpir, Pak Elektron and Kohinoor Energy)
- Artistic Milliners (Pvt) Limited
The Board also approved the reconstitution of its audit and risk, human resources, investment, and legal committees.
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