07 Jan 2014
This year's sale process for the government's power assets commenced on Tuesday (07 January 2014) as the Power Sector Assets and Liabilities Management (PSALM) Corporation held the Pre-bid Conference for prospective bidders of the decommissioned 850-megawatt (MW) Sucat Thermal Power Plant.
All nine (9) interested parties - six (6) Filipino and three (3) foreign firms - attended the pre-bidding activity, wherein the bidding procedures and other concerns regarding the sale of the non-generating power asset were discussed.
PSALM specified that the Filipino companies are: Aluminum Recycling Specialist, Inc.; Bonapor Metal Contractor Services & General Merchandise; Genetron International Marketing; MZQ Trading; Sta. Clara International Corporation; and VPD Trading.
The foreign firms, on the other hand, consist of Dutch DDM Demontage BV; Malaysian Gagasan Steel Inc.; and Chinese Sinolink International Enterprise Holdings Limited.
"While PSALM is selling the Sucat plant as a decommissioned power facility, we give equal importance to this bidding exercise, as PSALM judiciously strives to improve the government's financial position through its privatization," PSALM President and Chief Executive Officer Emmanuel R. Ledesma, Jr. noted in his message to the attendees.
PSALM, in a previous statement, said all nine (9) prospective bidders had completed the initial requirements of the bid, namely: submission of a Letter of Interest, payment of the PhP100,000.00 Participation Fee, and execution of a Confidentiality Agreement and Undertaking with PSALM prior to their respective deadlines.
"Thank you for your time and interest in this bidding activity, and we look forward to your active participation until our bid submission and evaluation day on 12 March 2014," Mr. Ledesma said.
PSALM reiterated that the Bid Submission Deadline is at 12:00 p.m. of 12 March 2014, with the bid opening activity to be held at its Makati City office.
PSALM is selling all plant equipment, structures, auxiliaries and accessories of the Sucat plant on an "as is, where is" basis.
Located in Sucat, Muntinlupa City, the Sucat plant is an oil-fired power plant that was previously owned by the Manila Electric Co., and later acquired by the National Power Corporation in November 1978. It consists of Unit 1, which has a rated capacity of 150 MW; Units 2 and 3, each with 200 MW; and Unit 4, which is rated at 300 MW.
Formerly known as the Gardner Snyder Thermal Plant, the Sucat plant officially commenced commercial operations on 01 August 1968 after the completion of Unit 1. Units 2-4 followed operations after their construction in 1970, 1971, and 1972, respectively.
In January 2000, Units 1 and 4 were decommissioned and placed under preservation. Units 2 and 3 followed later in January 2002.
Strategic Communications and Partnership Division |