PSALM denies setting deadline for Calaca payment

14 Jul 2008

The Power Sector Assets and Liabilities Management Corporation (PSALM) today denied having set a deadline for the payment of the Calaca Coal-Fired Thermal Power Plant.

All parties concerned are committed to close the transaction in accordance with the terms of the contract for the sale of the power plant.

The Calaca plant was bid out on 16 October 2007, with the consortium of Calaca Holdco Inc. (CHI) emerging as the highest bidder with a bid of USD786.53 million (USD786,527,001.00). CHI is wholly owned by Suez-Tractebel through its wholly-owned subsidiary Belgelectric Finance B.V.

Strategic Communications and Partnership Division
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