Published May 30, 2017, 10:01 PM By Myrna M.
Velasco
State-run Power Sector Assets and
Liabilities Management Corporation (PSALM) has shortlisted three bidders in the
scheduled divestment of the decommissioned Sucat thermal power facility, which
at its life cycle, used to yield 850-megawatt capacity for Luzon grid.
The qualified prospective takers of
the asset had been Riverbend Consolidated Mining Corporation; VPD Trading; and
G.G. Uy Bonapor Metal Contractor Company.
The sale of the Sucat plant, on “as
is, where is basis’ had long been targeted, but it had gone through several
setbacks before asset-seller PSALM could even advance to this new round of
auction.
The last divestment process had been
marred with “fraudulent transaction controversy” that had been triggered by the
actions of the previously declared winning bidder.
PSALM said that in the upcoming
bidding, the asset sale will cover “the structures, plant equipment,
auxiliaries and accessories” of the decommissioned plant.
The qualified bidders, the company
added, “will be allowed to participate further in the bidding process and are
expected to submit their bids for the Sucat plant on Wednesday (May 31).”
The state-run firm said at least six
investor-groups had initially set sight on the Sucat facility, but only the
three “subsequently submitted documentary deliverables,” as stipulated under
the bidding procedures and had been held fully compliant.
PSALM emphasized that the sale shall
also include “the obligation to clean up and remediate the site which means
that the buyer shall return the present site to ground zero (road level), free
and clear of wastes, toxic substances, debris and structures.”
And as the asset will be divested on
a “scrap mode,” the government is still aligning the current Sucat site as one
that could still host another power facility.
Previous plans had been for it to be
the site of a gas-fired power facility that will serve as anchor load for the
planned Batangas-Manila (BatMan) high pressure gas pipeline.
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