PSALM welcomes 9 prospective bidders for Sucat plant

Posted at 01/07/2014 5:07 PM | Updated as of 01/07/2014 5:08 PM

MANILA – The Power Sector Assets and Liabilities Management (PSALM) Corporation welcomed the prospective bidders of the Sucat Thermal Power Plant as it held the pre-bid conference on Tuesday.

Nine interested parties joined the pre-bidding bidding activity, namely:

FOREIGN COMPANIES
Dutch DDM Demontage BV;
Malaysian Gagasan Steel Inc.;
Chinese Sinolink International Enterprise Holdings Limited.

FILIPINO COMPANIES
Aluminum Recycling Specialist, Inc.;
Bonapor Metal Contractor Services & General Merchandise;
Genetron International Marketing;
MZQ Trading;
Sta. Clara International Corporation;
VPD Trading.

"While PSALM is selling the Sucat plant as a decommissioned power facility, we give equal importance to this bidding exercise, as PSALM judiciously strives to improve the government's financial position through its privatization," PSALM president and chief executive Emmanuel Ledesma, Jr. said.

The prospective bidders earlier completed the initial requirements of the bid, namely the submission of a Letter of Interest, payment of the P100,000 participation fee, and execution of a Confidentiality Agreement and Undertaking with PSALM prior to their respective deadlines.

PSALM said the bid submission deadline is on March 12, 2014 at 12 p.m. The bid opening activity will be at its Makati office.

PSALM is selling all plant equipment, structures, auxiliaries and accessories of the decommissioned 850-megawatt Sucat plant on an "as is, where is" basis.