June 7, 2016
from Business Mirror
The Power Sector Assets and Liabilities Management Corp. (PSALM) targets to rebid the 850-megawatt Sucat power plant in September, after two failed biddings since last year.
“The PSALM Board has just approved the privatization of decommissioned Sucat plant with September 2016 as target date of bidding,” PSALM officer in charge Lourdes Alzona said on Tuesday.
She noted that PSALM might proceed with a negotiated sale in case the bidding is again declared a failure.
The bidding includes the structures, plant equipment, auxiliaries and accessories of the power plant.
The corporation declared a bidding failure after the three qualified bidders had not met the reserve price set by the Board on April 8 during the second bidding. The bidders were Riverbend Consolidated Mining Corp., VPD Trading and Sta. Clara International.