Power Sector Assets and Liabilities Management Corp. is ready to start its third round of public bidding for the 650-megawatt Malaya Thermal Power Plant and its underlying land in Barangay Malaya, Pililla, Rizal.
PSALM started the publication of its “Invitation to Bid” encouraging interested parties to participate in the bidding activities starting February 3 until March 12, 2020.
Only parties who submitted letters of interest and who have been issued PSALM’s bidding package will be allowed to participate in the privatization of the assets. The bidding procedures can be downloaded from the PSALM website at www.psalm.gov.ph.
PSALM will hold a pre-bid conference on February 13 at 2:00 p.m. to solicit any comments and concerns that interested bidders may have relative to the bidding requirements and asset sale provisions. The bid opening is set on April 15, 2020.
Interested bidders must address their bids to the PSALM Bids and Awards Committee chairperson and send to PSALM’s office at 24th Floor, Vertis North Corporate Center Tower 1, Astra corner Lux Drives, Vertis North, Mindanao Avenue, 1105 Quezon City.
PSALM is determined to privatize the asset, which is sold on an “as-is-where-is” basis, by taking the necessary steps to adjust the minimum bid price. It has also conducted valuation studies on MTPP and its underlying land in determining the reserve bid price.
“To make this public bidding attractive to bidders, we need to find an acceptable way of reducing the minimum bid price,” PSALM president Irene Garcia earlier said.
