Meralco Consortium has been picked by Millennium Development Authority (MiDA) to manage the Electricity Company of Ghana (ECG).
Meralco Consortium, which is led by the Manila Electricity Company (Meralco), is an incorporated company in the Philippines, operating over the last 115 years.
Ahead of the announcement, CH Group pulled out of the bidding process leaving BXC Company Limited and Meralco Consortium.
A statement signed by Director of Communication and Outreach Pamela Djamson-Tettey said, ‘The Meralco Consortium was determined to have the highest combined technical and financial score and has therefore been designated as the Preferred Bidder. Its electricity distribution network covers a third of the Philippines and serves a customer population (Accounts) in excess of six million’.
The statement added that MiDA will soon start finalising the agreements related to the implementation of the ECG PSP Transaction.
Per the compact, the Millennium Challenge Corporation is expected to inject about $418 million into ECG, while Meralco will invest about $500 million.
By: Ghana/Ultimatefmonline.com/106.9FM
The post MiDA Selects Meralco to Manage ECG appeared first on Ultimate FM.
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