Sucat thermal power plant bidding draws 9 groups

MANILA, Philippines - The Power Sector Assets and Liabilities Management Corp. (PSALM), the government agency tasked to privatize state-owned power assets, has attracted nine investor groups for the privatization of the decommissioned 850-megawatt (MW) Sucat thermal power plant.

The nine interested parties comprise of six Filipino and three foreign firms. The Filipino firms are Aluminum Recycling Specialist Inc., Bonapor Metal Contractor Services & General Merchandise, Genetron International Marketing, MZQ Trading, Sta. Clara International Corp. and VPD Trading.

The foreign firms, on the other hand, consist of Dutch DDM Demontage BV, Malaysian Gagasan Steel Inc. and Chinese Sinolink International Enterprise Holdings Ltd.

“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,” said PSALM president and chief executive officer Emmanuel Ledesma Jr.

He said the agency looks forward to the active participation of the nine interested parties through the bid submission and evaluation day on March 12.

Ledesma reiterated that the bid submission deadline is at 12p.m. of March 12, with the bid opening activity to be held at its Makati City office.

According to its privatization program for the Sucat plant, PSALM is selling all plant equipment, structures, auxiliaries and accessories on an “as is, where is” basis.

Located in Sucat, Muntinlupa City, the decommissioned plant is an oil-fired power plant previously owned by the Manila Electric Co. (Meralco), the country’s biggest power distributor.

The National Power Corp. (Napocor), the state-owned power corporation acquired the plant 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 has capacity at 300 MW.