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Asset Verification & Valuation for Nepal Electricity Authority (AVNEA)

Dear Xiaoping Wang, Please find the attached notice for your Review and No-Objection. Thanking You, Sangita Karki Attachment: REQUEST FOR EXPRESSIONS OF INTEREST (CONSULTING SERVICES – FIRMS SELECTION) First Publication Date: April……, 2019 Country: Nepal Name of Project: Power Sector Reform and Sustainable Hydropower Development Project Assignment Title: Asset Verification and Valuation in Nepal Electricity Authority Reference No.: PSRSHDP/CS/QCBS-01 1. The Government of Nepal (GoN) has received financing from the World Bank towards the cost for Power Sector Reform and Sustainable Hydropower Development Project (PSRSHDP) and intends to apply part of the proceeds for consulting services to carry out asset verification and valuation of Nepal Electricity Authority (NEA). 3. The consulting service (“the Services”) is for verification and valuation of assets in NEA. The principal activities are: Conduct physical verification segregating into various components of Property Plant & Equipment (PPE) and inventories under NEA’s ownership and control. Develop separate database/register for PPE and inventories respectively based on types of PPE & inventories. Conduct valuation as per NFRS based on the identified nature and condition of PPE/Inventories as agreeing with NEA on suitability of valuation method, useful lives and other aspects as applicable. Update database/ register of PPE/Inventories respectively based on valuation. Recommend appropriate adjustments including write-offs and disclosure requirement with justifications based on verification and valuation. Recommend adjustments required for outstanding inter-unit balances on PPE/ Inventories based on verification and valuation. Develop standard operating procedures/manuals for PPE and inventories respectively in consultation with NEA based on NEA’s nature of business and Nepal Financial Reporting Standards. Conduct training on verification and valuation methodologies as per developed operating procedures/manuals and updating of the database. The estimated duration of these consulting services is eighteen (18) months. The NEA now invites Expression of Interest (EOI) from interested and eligible consulting firms (“Consultants”) to provide the above-mentioned Services. Interested consulting firms should provide information demonstrating that they have the required qualifications and relevant experience to perform the Services. All submittals from the consulting firms shall be in English language.All interested consulting firms, including JV firms, must meet the minimum requirements: have at least seven (7) years of working experience in the relevant field have at least one (1) completed contract in each area of physical verification and valuation or combined for an electricity utility(ies) with an annual turnover greater than US$ 300 million. 6. The attention of interested consultant is drawn to paragraph 1.9 of the World Bank’s Guidelines: Selection of Employment of Consultant under IBRD and IDA Credits & Grants by World Bank’s borrower- January 2011, revised July 2014 (“Consultant Guidelines”),setting forth the World Bank’s policy on conflict of interest. 7. EOIs will be evaluated based on the Consultant’s qualification and experience and organization strength of consulting firm. The shortlisting criteria are: Core Business and Years of Experience Relevant Experience Technical Capacity of firm Managerial Capacity of firm Key Experts will not be evaluated at shortlisting stage. 8. Based on evaluation of EOI, only shortlisted firms will be invited to submit technical and financial proposal through a request for proposal. A Consultant(s) will be selected in accordance with the Quality and Cost Based (QCBS) selection method set out in the Consultant Guidelines. 9. The Terms of Reference (ToR) and this request for EOI can be either downloaded from the NEA's website: www.nea.org.np or collected from th