The Millennium Development Authority (MiDA) has announced the 'Preferred Bidder' to manage the Electricity Company of Ghana (ECG) as Meralco Consortium.
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The Chief Executive Officer of MiDA, Martin Eson-Benjamin speaking to the press stated that a contract has to be negotiated before conclusion and saying that the preferred company has been awarded the contract. As such, the term "preferred bidder” describes the status of Meralco Consortium. He further explained the process saying this selection was made following an international competitive procurement process and the evaluation of the proposals received for the 'Management of, Operation of, and Investment in' the Electricity Distribution Business of ECG.
In a statement then signed by Pamela Djamson-Tettey Director, Communication and Outreach of MiDA said, it was announced that The Meralco Consortium has been determined to have the highest combined technical and financial score and has therefore been designated as the Preferred Bidder.
The statement also added that negotiations will soon commence to finalise all the agreements related to the implementation of the ECG PSP Transaction. Neverthless, MiDA assured Ghanaians that it will continue to adhere to, and uphold high standards of integrity and transparency throughout the process.
The Meralco Consortium is led by the Manila Electricity Company (Meralco), a 115 year old privately owned company incorporated in the Philippines. Its electricity distribution network covers a third of the Philippines and serves a customer population (Accounts) in excess of six million.