10 firms vying for Sucat plant assets

by Riza T. Olchondra – December 2nd, 2015 03:23 AM

from Philippine Daily Inquirer

Ten companies firmed up their participation in the bidding for the structures, plant equipment, auxiliaries and accessories of the decommissioned 850-megawatt (MW) Sucat Thermal Power Plant (STPP) in Muntinlupa City, according to Power Sector Assets and Liabilities Management (PSALM) Corp.

According to PSALM, 10 out of 12 prospective bidders sent representatives to the pre-bid conference on Nov. 27. Earlier, PSALM president and CEO Lourdes S. Alzona said a dozen companies sent letters of intent to participate in the bidding.

Those who submitted letters and went through the pre-bidding process may proceed to the actual bidding.

Revenue from the tender will help the state firm meet the financial obligations it assumed from National Power Corp., PSALM said.

“PSALM is pleased with the interest shown by investors in this privatization activity, which is among the highly participated disposal initiatives of the corporation. It has attracted 12 prospective bidders, two of which are foreign companies. We are appreciative of the continued enthusiasm of the private sector for the government’s privatization program,” said Cecilio B. Gellada Jr., PSALM acting vice-president and general counsel during the pre-bid conference.

PSALM is selling all plant equipment, structures, auxiliaries and accessories of the STPP on Feb. 17.

STPP is an oil-fired power plant that was previously owned by Manila Electric Co., and was acquired by NPC in November 1978. It consists of Unit 1, which has a rated capacity of 150 MW; Units 2 and 3, each with 200 MW, and Unit 4, rated at 300 MW.

PSALM opened the second round of bidding for the sale of the Sucat facility on Nov. 11, 2015.