Jordan to announce winner of tender for power sector privatisation

Sep 12, 2001 02:00 AM

The Jordanian government is expected to name, before the end of the month, the international consultancy firm selected to study the most appropriate way to privatise the three electricity companies in Jordan, a senior state official said.
Last October, the government announced its plans to privatise the electric companies and six firms were qualified to tender for the consultancy. They are: Swiss Credit First Boston, Lehman Brothers (American), Rothchild and Sons, City Group (British), Deutsch Bank (German) and BNP Paribas (French).
The three companies slated for privatisation are the Central Electric Generating Company and the Electric Distribution Company, both 100 % state-owned, and the Irbid District Electricity Company, which is 55 % government-owned.
"The [consultancy] firm selected will be responsible for assessing the financial and technical situation of these companies, specifying which privatisation policy the government will follow, and analysing offers from parties interested in buying the government's shares in the electric companies," said the official.

The importance of privatisation in the electricity sector, said the official, is that it paves the way for local and global private sectors to invest in a vital area with guaranteed revenue, and in a country where demand for electricity is increasing daily. Citizens will be protected from a possible rise in electricity prices when the sector is privatised, the official said, because the government forbids any kind of monopoly or price-fixing in the electricity sector.

Source: Jordan Times
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