By Danessa Rivera (The
Philippine Star) | Updated November 13, 2015 - 12:00am
MANILA, Philippines - State-run
Power Sector Assets and Liabilities Management Corp. (PSALM) has started the
rebidding process for the decommissioned 850-megawatt (MW) Sucat thermal power
plant in Muntinlupa City.
In a bid bulletin published
yesterday, PSALM said interested bidders may now submit letters of intent (LOI)
until Nov. 23 for the privatization of the Sucat facility.
“Interested parties must submit a
letter of intent stating their full name, address, telephone and fax number,
name of the principal contact, and signed by an authorized representative,” the
bid bulletin read.
Furthermore, to be eligible to
participate in the bidding process, PSALM said these parties are also directed
to pay a participation fee amounting to P100,000 and execute a confidentiality
agreement and undertaking.
PSALM, the government agency tasked
to manage state-owned power assets, has set a pre-bid conference on Nov. 24 and
bid submission deadline on Feb. 17, 2016.
Bidders are required to post a bid
security of P15 million.
Once PSALM receives pertinent
requirements for the sale of the asset, it will conduct due diligence starting
Nov. 15 until two business days prior to the Feb. 17 deadline.
“Interested parties who were
disqualified from participating in PSALM’s bidding activities by reason of
fraudulent acts or who committed fraud or breach in the provisions of any
agreement with PSALM are disqualified from participating in this bidding,” it
noted.
PSALM decided to rebid the Sucat
thermal power plant after the auction in 2014 failed due to allegations of fake
documents submitted by the highest bidder.
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