08 Apr 2016
The Power Sector Assets and Liabilities Management (PSALM) Corporation declares the second round bidding held today (08 April 2016) for the structures, plant equipment, auxiliaries and accessories of the decommissioned 850-megawatt Sucat Thermal Power Plant as a failed bidding after the three qualified bidders did not meet the reserve price set by the PSALM Board.
"The bidding was declared a failure because none of the qualified bidders met the reserve price set for the asset package," PSALM Officer-in-Charge Lourdes S. Alzona said.
Initially, four bidders submitted their offers for the Sucat sale. However, one bidder was disqualified after it was found non-compliant with the legal requirements of the bidding process.
The three bidders who were qualified in the bidding were Riverbend Consolidated Mining Corp., VPD Trading and Sta. Clara International Corporation.
The PSALM Privatization Bids and Awards Committee will convene to discuss the next steps for the asset sale.
Strategic Communications and Partnership Division |