Credit to Author: JORDEENE B. LAGARE| Date: Fri, 11 Jan 2019 16:46:24 +0000
THE Power Sector Assets and Liabilities Management Corp. (PSALM) is soliciting offers for the decommissioned Manila Thermal Power Plant’s (MTPP) land following two failed biddings.
The minimum offer price remains at P736.368 million, PSALM said.
Psalm said entities wanting to acquire the eight lots of the plant — decommissioned in 2000 — have until January 31 at 12 noon to submit their proposals at its office in Quezon City. Expressions of interest and acceptance of the negotiated procedures must be given to PSALM on or before January 23 to its privatization, bids and awards committee. Starting January 9, the PSALM may conduct due diligence activities for interested parties.
As part of its privatization efforts, the state-led corporation is selling the 20,975-hectare property along the Pasig River in Isla de Provisor in Paco, Manila. However, the first and second rounds of bidding for the land failed on Aug, 15, 2018 and Nov, 23, 2018, respectively.
In a text message, Psalm President and Chief Executive Officer Irene Joy Garcia said the first bidding failed because no company lodged proposals while for the second bidding, no entity was able to purchase bid documents.
Manila thermal plant’s property is one of the assets being sold by PSALM to manage liabilities assumed from the National Power Corp. (Napocor), as mandated by Republic Act 9136 or the Electric Power Industry Reform Act (EPIRA) of 2001.
Other power assets up for grabs include the 650-megawatt (MW) Malaya Thermal Power Plant (MTTP) and its underlying land in Pililia, Rizal; Napocor’s complex in Quezon City; and the Bagac property beside Las Casas Filipinas de Acuzar in Bataan.