News Release - January 31, 1997
SASKPOWER COMMERCIAL TO NEGOTIATE UTILITY PROJECT IN GUYANA
Eldon Lautermilch, minister responsible for SaskPower, today welcomed
the announcement from Guyana Prime Minister Samuel Hinds that
SaskPower's subsidiary, SaskPower Commercial, submitted the most
favourable bid in a competitive process to become a business partner in
developing the national electric utility of the South American nation
"SaskPower Commercial put forward an excellent proposal in a stiff
competition with companies from all over the world," Lautermilch said.
"While no contract has been signed, success at this stage in the
process reflects SaskPower's world-class expertise and strength in
understanding and pursuing international marketing opportunities."
In a media release issued yesterday by the Government of Guyana, Prime
Minister Hinds stated, "The government is optimistic that, with the
equity participation and managerial skills of SaskPower, the new Guyana
Electricity Corporation (GEC) will provide the affordable, reliable
supply of electric power fundamental to Guyana's economic development.
SaskPower was selected as the result of a transparent, competitive
bidding process involving many participants, eventually narrowed to
eight short-listed investors and consortia that included companies from
Australia, the U.S., the U.K., India, Canada and Guyana."
Prime Minister Hinds noted that two of the main features of SaskPower's
a world-class management team and an established business plan to
quickly begin rehabilitating GEC; and
plans to promote increased employee training, local purchasing,
environmental protection, a proposed exchange program between the
University of Guyana and the University of Regina and a proposed
technical assistance exchange program.
The SaskPower team includes J. Kaehne & Associates Ltd., a major
Canadian engineering firm based in Vancouver which develops power
plants and electrical distribution facilities and has previous
experience in Guyana with power systems for the Omai Gold Mines Ltd.
Now that the bidding process is complete, SaskPower Commercial will
begin negotiations with the Government of Guyana to define the
commercial terms of the project. The process is expected to take
For more information, contact:
Phone: (306) 787-0850