Business Mirror
Published on Monday, 06 May 2013 19:46 Written by Lenie Lectura
THE Power Sector Assets and Liabilities Management Corp. (PSALM) will hold a third auction for power barges (PB) 101, 102, 103 and 104 under new terms.
PSALM will sell PBs 101, 102 and 103 “all based in Iloilo” as one package. These barges will not be required to be transferred to Mindanao.
While PB 104 will be sold as a separate package and the winning bidder will be required to operate the barge in Mindanao for at least five years. It must be noted that under PSALM’s previous bidding parameters, the three barges moored in the Visayas were required to be transferred and operated in Mindanao.
“After due consideration, the PSALM board has approved the privatization of the power barges through another round of public bidding that includes some changes in the terms of the sale,” PSALM President and Chief Executive Officer Emmanuel R. Ledesma Jr. said. The board has also agreed to sell the power barges on location.
“This means that no purchase request or purchase order will be attached to the sale agreement,” Ledesma added.
The first two rounds of bidding that PSALM held for the power barges were declared failures after only one bidder participated in both exercises.
In the first bidding held on May 17, 2012, only ACTA Power—a joint venture of Ayala Corp.’s AC Energy Holdings and Phinma’s Trans-Asia Oil and Energy Development Corp.—submitted an offer.
In the second auction held in August last year, only Trans-Asia submitted a bid. Subsequent negotiations with Trans-Asia also failed.
“Having addressed the concerns of interested parties, we are positive that the new round of bidding for PBs 101, 102, 103 and 104 will be successful,” Ledesma said
Commissioned in 1981, PBs 101 and 102 are currently stationed at Barrio Obrero in Iloilo City. PBs 103 and 104, which began operating in 1985, are moored in Botongon, Estancia, Iloilo, and at the Holcim Compound in Ilang, Davao City, respectively. source
Lenie Lectura
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