Monday , December 10 2018 12:19 am
Home / Business / MiDA Picks Meralco As ECG Managers

MiDA Picks Meralco As ECG Managers

The Millennium Development Authority (MiDA) has announced that Meralco Consortium has been selected to manage the Electricity Company of Ghana (ECG).

“The Meralco Consortium was determined to have the highest combined technical and financial score and has therefore been designated as the Preferred Bidder,” MiDA said in a statement.

Meralco Consortium, which is led by the Manila Electricity Company (Meralco), is an incorporated company in the Philippines, operating over the last 115 years.

“Its electricity distribution network covers a third of the Philippines and serves a customer population (Accounts) in excess of six million,” the MiDA statement signed by Director of Communication and Outreach Pamela Djamson-Tettey noted.

MiDA stated it will soon start finalising the agreements related to the implementation of the ECG PSP Transaction.

Ahead of the announcement, CH Group pulled out of the bidding process leaving BXC Company Limited and Meralco Consortium.

Per the compact, the Millennium Challenge Corporation is expected to inject about $418 million into ECG, while Meralco will invest about $500 million.

By: Starrfmonline.com

Check Also

E/R: Ankaase Youth Abandon Cocoa Farming Because it’s Not Lucrative

The Youth in Ankaase Community in the Atiwa East District in the Eastern Region have …

E/R: Illegal Mining Destroying Cocoa Farm Roads In Ankaase – Cocoa Farmers Cry out

Cocoa Farmers of Akyem Ankaase in the Atiwa East District in the Eastern Region Cry …

Asokore SDA SHS, Chinto JHS win Blue Skies School Farm Competition 2018

Koforidua Asokore SDA SHS was emerged winners in this years Blue skies School Farm Project …

Leave a Reply

%d bloggers like this: