15 Apr 2016
The SPC Island Power Corporation (SIPC) submitted the highest offer for the negotiated sale of the 32 megawatts Power Barge (PB) 104, the Power Sector Assets and Liabilities Management (PSALM) Corporation reported on Friday (15 April 2016) after closing the bidding in its Makati City Office.
"SIPC was declared the negotiating party with the highest offer after it bested two other companies with its PhP218,899,999.00 proposal," said PSALM Officer-in-Charge Lourdes S. Alzona.
PSALM Privatization Bids and Awards Committee will report the results of the negotiated sale to the PSALM Board then subsequently issue a Notice of Award upon completion of the negotiation process.
The two other companies who joined the negotiated sale were Trans-Asia Oil and Energy Development Corporation and D.M. Wenceslao & Associates, Incorporated.
PB 104 was commissioned in 1981 and started operation in 1985. It is located at the Holcim Compound, Ilang, Davao City.
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