The Power Sector Assets and Liabilities Management (PSALM) Corporation successfully conducted the bidding for the three (3) lots of its Maibarara Property yesterday, 30 January 2025.
The bid submitted by the lone bidder, Maibarara Geothermal, Inc. (MGI) amounted to PHP473,168,100.00, which is the same as minimum bid price. This bid was conditionally accepted, pending the completion of the post-qualification process. PSALM’s Privatization, Bids and Awars Committee declared that this process would verify the accuracy and authenticity of the eligibility documents provided by MGI.
Composed of three (3) lots with an area of 58,911 sq.m. more or less, the Maibarara Property is situated in San Rafael, Santo Tomas City, Batangas, and Calamba City, Laguna.
The proceeds from the successful privatization of any PSALM asset will be used to settle the remaining stranded contract costs and stranded debts that PSALM had assumed from the National Power Corporation.
PSALM successfully bids out Maibarara Property
The Power Sector Assets and Liabilities Management (PSALM) Corporation successfully conducted the bidding for the three (3) lots of its Maibarara Property yesterday, 30 January 2025.
The bid submitted by the lone bidder, Maibarara Geothermal, Inc. (MGI) amounted to PHP473,168,100.00, which is the same as minimum bid price. This bid was conditionally accepted, pending the completion of the post-qualification process. PSALM’s Privatization, Bids and Awars Committee declared that this process would verify the accuracy and authenticity of the eligibility documents provided by MGI.
Composed of three (3) lots with an area of 58,911 sq.m. more or less, the Maibarara Property is situated in San Rafael, Santo Tomas City, Batangas, and Calamba City, Laguna.
The proceeds from the successful privatization of any PSALM asset will be used to settle the remaining stranded contract costs and stranded debts that PSALM had assumed from the National Power Corporation.
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