Five firms expressed interest to join Malaya Thermal Power Plant Disposal Process

06 Mar 2021

The Power Sector Assets and Liabilities Management Corporation (PSALM) Corporation has received five (5) Letters of Interest (LOI) from various firms in the third-round of negotiated sale for the 650-megawatt Malaya Thermal Power Plant (MTPP) and its underlying land, located in Pililla, Rizal. The interested bidders who have submitted their LOIs to participate in the negotiated sale process are as follows: (a) China Gezhouba Group Co., Ltd, (b) Sta. Clara International Corporation, (c) VBB Trucking Trading and Consultancy Services, Inc., (d) Fort Pilar Energy Inc. and (e) AC Energy Philippines, Inc.

“PSALM looks forward to a successful privatization process for the Malaya Power Plant. We are excited that five firms expressed interest to join the process. We have lowered the minimum offer price already. Hopefully, this round will allow us to finally sell the Malaya Power Plant,” said PSALM President and CEO Irene Besido-Garcia.

A pre-negotiation conference will be held by PSALM for the interested buyers on 09 March 2021 at 2:00 PM to discuss the issues and concerns that they may have relative to the terms of the sale. The Offer Submission Deadline is scheduled on 23 April 2021 at 12:00 noon.

The minimum offer price (MOP) for the package has been substantially reduced to PHP1,845,222,000 from the amount offered in the second round of negotiated sale at PHP2,007,780,000.00.

Only interested parties who submitted an LOI will be allowed to participate in the negotiated sale process for the MTPP.

Strategic Communications and Partnership Division
Tel. No. (632) 9029067