PSALM starts sale of Iligan diesel complex

07 Jul 2008

The Power Sector Assets and Liabilities Management Corporation (PSALM) today (07 July 2008) opened the sale process for the 114-megawatt Iligan I & II Diesel Power Plant (IDPP 1&2) Complex in Northern Mindanao as it begins implementing the government's power privatization program for the second semester.

The IDPP 1&2 Invitation to Bid (ITB), which PSALM is publishing in local newspapers starting today until 09 July 2008, states that interested parties have until 5 p.m. of 24 July 2008 to submit a letter signifying their interest to bid for the asset.

The interested investor groups are also required to execute and undertake a Confidentiality Agreement and an Undertaking with PSALM, and pay a non-refundable fee of USD2,000.00 before 5 p.m. of 25 July 2008 to be able to obtain a copy of the Bidding Package, which includes the Bidding Procedures.

The ITB states that the Due Diligence period for qualified investor groups will be from 14 July to 08 October 2008.

PSALM will hold a Pre-Bid Conference for the prospective bidders on 01 August 2008 at its main office in Makati City.

PSALM has set the bidding for the Iligan-based power plant complex on 15 October 2008. It will adopt the two-envelope bidding system, which it has used in previous bidding exercises.

Situated in the locality of Mapalad, Dalipuga in Iligan City, or approximately 74 kilometers southwest of Cagayan de Oro City, the IDPP 1&2 complex runs on Bunker C and/or diesel fuel types for its start-up and shutdown operations. Both Units 1 and 2 of IDPP were commissioned in 1993.

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