posted February 02, 2016 at 11:40 pm by Alena
Mae S. Flores
Power Sector Assets and Liabilities
Management Corp. is pursuing the second round of bidding for the decommissioned
850-megawatt Sucat Thermal Power Plant this month.
“Target bidding is [this] month,”
PSALM officer-in-charge Lourdes Alzona said. PSALM earlier set the bidding
deadline on February 17.
Ten of the 12 prospective bidders
participated in the pre-bid conference during the second round of auction for
the structures, plant equipment, auxiliaries and accessories of the
decommissioned Sucat plant in November.
“PSALM is pleased with the interest
shown by investors in this privatization activity, which is among the highly
participated disposal initiatives of the corporation. It has attracted 12
prospective bidders, two of which are foreign companies. We are appreciative of
the continued enthusiasm of the private sector for the government’s
privatization program,” said PSALM vice president and general counsel Cecilio
Gellada Jr. earlier.
PSALM plans to use the proceeds from
the Sucat privatization to liquidate the financial obligations it assumed from
National Power COrp..
Gellada, meanwhile, assured the
participants the bidding processes would be efficient, fair and transparent.
The first round of bidding failed
last year amid allegations of dubious documents submitted by the winning
bidder.
PSALM earlier said Genetron
International Marketing, a Bulacan-based chemical manufacturer, submitted the
highest bid of P602 million for the decommissioned power plant.
More than 100 employees of PSALM in
a petition raised questions on the March bidding last year and called for the
removal of the former PSALM head for not taking immediate action against the
higher bidder.
Genetron was required to submit a
performance bond amounting to P301 million after the issuance of the
certificate of effectivity. PSALM employees, in their petition, claimed Genetron
allegedly submitted a fraudulent performance bond in the form of a standby
letter of credit, supposedly issued by JP Morgan Chase Bank.
PSALM is selling all plant
equipment, structures, auxiliaries and accessories of the Sucat plant on an “as
is, where is” basis.
Located in Sucat, Muntinglupa City,
the Sucat plant is an oil-fired power station that was previously owned by
Manila Electric Co. and later acquired by Napocor in November 1978.
It consists of Unit 1, which has a
rated capacity of 150 MW; Units 2 and 3, each with 200 MW; and Unit 4, which is
rated at 300 MW.
Formerly known as the Gardner Snyder
Thermal Plant, the Sucat facility officially started commercial operations on
August 1, 1968 after the completion of Unit 1.
Units 2, 3 and 4 started operating
in 1970, 1971, and 1972, respectively. In January 2000, Units 1 and 4 were
decommissioned and placed under preservation, while Units 2 and 3 were shut
down in January 2002.
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