05 Feb 2007
The Power Sector Assets and Liabilities Management Corporation (PSALM) today, 05 February, declared the bidding for the 25-year concession of the National Transmission Corporation a failure after only one investor group out of the three prequalified bidders participated in today's bidding exercise.
By 12 noon, the deadline set by PSALM, only the consortium of Citadel and Terna SpA submitted a bid.
The following prequalified bidders did not submit their bids:
* The consortium of Triratna, Newbridge Asia IV L.P. and Malaysian power firm Tenaga Nasional Berhad and
* The consortium of Monte Oro Grid Resources Corporation and State Grid Corporation of China.
The PSALM management has briefed the board on the various issues raised by the bidders and the Board will evaluate these issues before announcing the next steps to be taken.
Strategic Communications and Partnership Division |