by Alena Mae S. Flores – May 29, 2017 at 07:55 pm
from Manila Standard Today
Three bidders passed the pre-qualification process of Power Sector Assets and Liabilities Management Corp. in the auction of the decommissioned 850-megawatt Sucat Thermal Power Plant in Muntinlupa City.
PSALM said in a statement the qualified bidders would be allowed to participate further in the bidding process and were expected to submit their offers for the Sucat plant on Wednesday.
“The sale also includes the obligation to clean up and remediate the site which means that the buyer shall return the present site to ground zero (road level) free and clear of wastes, toxic substances, debris and structures,” the agency said.
PSALM earlier said six bidders initially expressed interest to bid, and subsequently submitted documents required by the bidding procedures. Only three companies were found to be fully compliant.
These companies are Riverbend Consolidated Mining Corp., VPD Trading and G.G. Uy Bonapor Metal Contractor Co..
The Sucat plant was operational for 33 years before Units 1 and 4 were decommissioned in January 2000. Units 2 and 3, meanwhile, were shut down in January 2002.
“The successful sale of this asset advances the interest of the government as the proceeds will be part of the additional funding source for the liquidation of the National Power Corporation’s debts assumed by PSALM,” officer-in-charge Lourdes Alzona said earlier.
PSALM was supposed to re-bid the Sucat facility last year but it had to wait for clearance from the Environment Department.
PSALM manages the assets and liabilities of Napocor. The PSALM board approved the privatization of decommissioned Sucat plant in September last year.