Ensa and Edemet-Edechi were the only companies that submitted bids to acquire a 51% stake in the electricity distribution companies which are already operating in Panama. The shares will be sold in three packages. The first one comprises of the western part of Panama City, the area west of Panama and the central provinces remain under the domain of Edemet. The company offered $570m.
Ensa will maintain control of Elektra Noreste, which includes the provinces of Panama, Colon and Darien and the Guna Yala region, a block for which it submitted a bid $150m. Meanwhile, Edechi who bid $230 will continue operating in Chiriqui and Bocas del Toro.
The new contract goes into effect on October 22, from which time more stringent quality standards will be in effect. Companies will have to invest in more customer service offices, expanding in rural areas and improving street lighting.