MTPP bidding declared a failure
The Power Sector Assets and Liabilities Management Corporation (PSALM) yesterday (06 February 2008) declared a failure of bidding for the decommissioned or retired Manila Thermal Power Plant (MTPP) located at Isla de Provisor, Paco, Manila.
Gagasan Steel Inc., an affiliate of Malaysia-based Gagasan Steel Sdn Berhad, and JC Ethanol and Metal Trading Corp., a South Korea-based company, submitted their...
PSALM commences '08 asset sale with decommissioned Manila Thermal plant
The government's power privatization program for 2008 kicks off today as the Power Sector Assets and Liabilities Management Corporation (PSALM) bids out the decommissioned or retired Manila Thermal Power Plant (MTPP) and the underlying land located at Isla de Provisor, Paco, Manila.
Expected to participate in the bidding are JC Ethanol and Metal Trading Corp. a Korea-based company, and Gagasan Steel...
A press release posted on this Web site inaccurately stated that the complaint filed by La Costa Development Corp. was dismissed by the Regional Trial Court of Makati City. However, only the prayer by La Costa for the issuance of a writ of preliminary injunction was denied by the Makati RTC. The complaint remains pending with the court for resolution of the main case. PSALM apologizes for any inconvenience...
PSALM signs Direct Agreement for TransCo concession
The Power Sector Assets and Liabilities Management Corporation (PSALM) has signed and sent out to the winning bidder, the consortium led by Monte Oro Grid Resources Corp., the Direct Agreement on the privatization of the National Transmission Corporation (TransCo) through concession.
The Direct Agreement provides the conditions for the award of the concession to operate TransCo and the execution...
PSALM: De Venecia's allegations on TransCo bidding unfounded
The Power Sector Assets and Liabilities Management Corporation refutes the unfounded statements of Rep. Jose de Venecia Jr. regarding the public bidding for the concession to operate the National Transmission Corporation (TransCo). In his speech before the House of Representatives last 04 February 2008, the former Speaker alleged that the bidding for the concession was rigged and was questionable....