National Power Construction Corporation (NPCC), a state owned enterprise that tops the list of entities to be privatised, has won a Saudi Riyal 288 million – approximately Rs7 billion – contract for construction of a 380kV transmission line in Saudi Arabia. A statement issued by the Ministry of Water and Power said that the bid was won by NPCC in collaboration with Sanabl in the western region of Saudi Arabia.
The award of the contract was pursuant to international competitive bidding where besides NPCC, four other pre-qualified Saudi, Korean and Indian companies submitted their bids. The contract signing ceremony held in Riyadh was attended by Saudi Electric Company President Ali Saleh Al-Baraq and NPCC Managing Director Muhammad Ejaz Malik. Pakistan Ambassador to Saudi Arabia Muhammad Naeem Khan was also present on the occasion. The government plans to privatise NPCC’s 88 per cent shares along with the management control.
Privatisation Commission has already invited expression of interest for the company. NPCC has earned recognition of a highly professional outfit and its performance continuously lauded by Saudi authorities. The company is now poised to enter the African market that has high business potential in its specialty.
