Taleveras Lead Preferred Bid for $125M Purchase of Port Harcourt Power Distribution Zone
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The 4 Power consortium, headed up by the Taleveras Group, has been selected as a preferred bidder in the Nigerian government’s Bureau of Public Enterprise Privatisation exercise, acquiring 60 Percent of the Port Harcourt Power Distribution and sub-station assets.

Online PR News – 15-November-2012 – Abuja, Nigeria – The 4 Power consortium, headed up by the Taleveras Group, has been selected as a preferred bidder in the Nigerian government’s Bureau of Public Enterprise Privatisation exercise, acquiring 60 Percent of the Port Harcourt Power Distribution and sub-station assets.

Nigeria announced the preferred bidders for 10 state-run power distribution firms it is selling as part of a plan to reform the country's moribund electricity sector. Power outages, which can last for several hours per day, are the biggest brake on growth in Africa's second biggest economy and a frequent complaint of Nigeria's 160 million people.

The total value of the assets being placed in private hands by the Nigerian government amounts to 197.25 billion naira ($1.25 billion).

Taleveras CEO, Igho Sanomi, commented that this is a great achievement for Taleveras and its plan to consolidate its growing Power Distribution unit.

“4 Power represents a strong partnership that will help in improving the Power situation in the Niger Delta Region,” said Mr Sanomi.

He also expressed satisfaction with the privatisation exercise of the power distribution companies, which clearly met all international standards, saying that the process of pre-qualification and selection was tough, transparent and very detailed in considering all ramifications.

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