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PSALM Corporation successfully sells unserviceable structures and equipment of the Malaya Gas Turbine Units

In a move to generate additional revenue for the government, the Power Sector Assets and Liabilities Management (PSALM) Corporation has successfully sold the unserviceable structures and equipment of the Malaya Gas Turbine Units (GTs) located inside the Malaya Thermal Power Plant in Brgy. Malaya, Pililla, Rizal, fetching a bid offer of PHP28,150,000.00 from the winning bidder, Rosarito Trading.

 

These unserviceable assets, which were excluded from the successful privatization of the Malaya Thermal Power Plant last 07 May 2021, were sold through an open competitive bidding process using a non-discretionary “pass/fail” criterion on 12 December 2023. The assets were disposed on an “As-Is, Where-Is”, “Take-All” basis.

 

On 10 January 2024, PSALM’s Disposal Committee issued the Notice to Proceed (NTP) and Contract for the Sale of said unserviceable assets to Rosarito Trading.

 

PSALM remains committed to responsible asset disposal, maximizing the value of government-owned power-related assets to pursue its mandate to liquidate the financial obligations assumed from the National Power Corporation. This sale is a testament to PSALM’s commitment and a step towards fulfilling its mandates.

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