$34m, Jacobsen bid $68m (after conversion from 53.8m Euros. Despite the bid terms having called for a 5-6 year Build-Transfer- Operate (BTO) Jacobsen came up with a BTO which had earlier been misrepresented as a six-year BOT.
Only Electro-maxx bid will transfer the plant at zero cost to the Government at the end of six years, while Jacobsen demands the government to pay $34m.
Voices are being raised about the effect of the grant element in Jacobsenâ€™s offer (1% of total running costs) and its attempt to illegally alter the bid terms as pointed out by the IGG.
These errors were huge and exposed the taxpayer to unacceptable costs in view of the options available. Given the urgency of Ugandaâ€™s energy crisis, it is imperative that this plant be in commercial operation within the shortest time possible, with our partners Hyundai Heavy Industriesâ€™ commitment to us we can be in operation 12 months earlier than the other bidder.
Public Relations Officer
Electro-Maxx (u) ltd
Electro-Maxx is happy with IGG