Daily News and Analysis
15 June 2011
Nigerian selloffs beckon India's power majors
At least 12 Indian companies have been shortlisted by the Nigerian government for participating in the privatisation of as many as 18 state-owned power generation and distribution companies in that country.
The list includes Adani Power, Tata Power, GMR, Essar, Jindal Power, Punj Lloyd, CESC, Lanco, Monnet Ispat and Energy, Srei Infrastructure Finance, North Delhi Power and Nesco.
The Nigerian government is currently undertaking a massive privatisation programme, involving sale of majority stake (51%) in four thermal generation plants, three hydropower plants and 11 distribution companies, all carved out of unbundling of the state-owned Power Holding Company of Nigeria (PHCN).