Friday, August 17, 2012

PSALM declares bidding for power barges a failure

By: Amy R. Remo
Philippine Daily Inquirer
MANILA, Philippines—The state-run Power Sector Assets and Liabilities Management Corp. declared as a failure on Friday  the bidding for four diesel-fired power barges.

PSALM president Emmanuel R. Ledesma Jr. said the bidding failed because only one company, Trans-Asia Oil and Energy Development Corp., submitted an offer for Power Barges 101, 102, 103 and 104.

As of 12:30 p.m., Ledesma was discussing with the PSALM board the possibility of conducting a negotiation with Trans-Asia Oil. Under the law, PSALM is allowed to enter into negotiations with an investor group after two failed biddings.     source

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