Companies, which have expressed interest in the Private Sector Participation (PSP) of the Electricity Company of Ghana (ECG), have met with the Millennium Development Authority (MiDA), the ECG and the government.
The meeting was part of a road show to outline requirements that must be met by an expected concessionaire as part of the compact two of the Millennium Challenge Account.
The compact two of the Millennium Challenge Account between the Government of Ghana and the Millennium Challenge Corporation of the United States of America is a Power Compact-aimed’ at transforming ECG.
It is also targeted at enhancing technology and efficiency in power distribution to become a stronger company able to meet the current and future needs of the power sector.
Information reaching Citi Business News indicates that about 40 companies have shown interest in the project.
Eighteen of the companies are indigenous or Ghanaian owned, while the remaining 24 companies are from 14 different foreign countries.
ECG is expected to be handed over to a Concessionaire in January 2017.
Speaking at the launch of the road show, the Managing Director of the ECG, Robert Dwamena said the company requires about 200 million dollars investment to make its operation efficient.
“The money will be used to replace obsolete equipment in order to maintain service quality”, he said.
By: Norvan Acquah – Hayfiord/Citibuinsessnesws.com/Ghana