03 Oct 2006
The Power Sector Assets and Liabilities Management Corporation (PSALM) held a successful bidders' forum for the decommissioned or retired plants that it is preparing to privatize as 22 interested investor groups attended the important exercise set last Friday, 29 September, a day after typhoon "Milenyo" wreaked havoc in Metro Manila.
The forum, which was conducted at the PSALM office in Makati City, sought "to solicit feedback and recommendations from bidders on the terms and conditions of the sale of the decommissioned plants," said Mr. Froilan A. Tampinco, PSALM vice president for Asset Management and Electricity Trading.
The decommissioned assets scheduled to be privatized are the 225-MW Bataan Thermal Power Plant, the 200-MW Manila Thermal Power Plant, the 22.3-MW General Santos Diesel Power Plant, the 54-MW Cebu II Diesel Power Plant and the 108-MW Aplaya Diesel Power Plant. Since these assets have been "retired" or are non-operational, they are assessed for their scrap value.
The 22 prospective bidders who participated in the forum consisted mainly of construction and steel manufacturing companies given the nature of the assets to be disposed. Groups from other sectors also attended in response to the invitation previously announced by PSALM.
Complying with environmental standards and securing the necessary permits from concerned local governments were among the issues raised by the forum participants on the sale of the decommissioned assets.
Encouraged by the warm response of the interested investors to the forum, Mr. Tampinco assured the participants that PSALM would provide the winning bidders whatever assistance they may need to effect the full transfer of ownership of the decommissioned assets. He also ensured that PSALM would consider the feedback it obtained from the forum discussion in preparing the disposal program and necessary bidding documents for the retired power plants.
"PSALM values the issues that our investors have raised in the forum. Knowing these concerns will be very helpful in formulating the most effective disposal strategy for the retired plants," said Mr. Tampinco. "By working together, we will surely be able to successfully privatize our decommissioned assets."
Strategic Communications and Partnership Division |