10 Aug 2017
Talks are underway for potential projects that may rise in the Sucat Thermal Power Plant (STPP) site in Muntinlupa City after the impending removal of the plant structures, the Power Sector Assets and Liabilities Management (PSALM) Corporation disclosed.
“Dismantling the Sucat plant will pave the way for the rise of a new development project that will benefit the host community and the country, in general,” PSALM Officer-in-Charge, Lourdes S. Alzona, said. Initial discussions include transforming the site as a location for an energy related project, a transportation hub, or an economic zone.
The winning bidder, Riverbend Consolidated Mining Corporation, will carry out the disposal of the plant structures. It has fully paid PSALM the purchase price of the decommissioned asset in the amount of PhP305,200,000.00 on 31 July 2017. With the satisfaction of closing deliveries, the asset turnover was held on 02 August 2017. This day also marks the start of the 30-month implementation period for Riverbend’s dismantling and clean up obligations.
In the asset sale provisions, Riverbend is obliged to dismantle the STPP and return the current site to ground zero, free and clear of wastes, toxic substances, debris and structures.
PSALM will also proceed with the decommissioning of the pipeline embedded in the plant site that connects the Sucat Plant, Rockwell Power Plant and the Manila Thermal Power Plant.
Corporate Communications Division