PSALM sets bidding for bundled Malaya plant, lot

The Power Sector Assets and Liabilities Management Corp. (PSALM) has called for tenders for the privatization of the 650-megawatt Malaya Thermal Power Plant and the land the facility occupies in Rizal.

In a notice to potential bidders, PSALM said it was now accepting letters of intent (LOI) to participate in the privatization of these assets. Interested parties have until Nov. 19 to turn in their LOIs.

The state firm also set the opening of bids on Dec. 14.

PSALM will hold a prebid conference on Oct. 17 to solicit any comments and concerns from interested bidders.

Last week, PSALM said Korean firm Soosan ENS Co. Ltd. was the lone bidder for a yearlong contract to operate and maintain the Malaya generators.

Soosan ENS asked for P208.74 million for the Malaya contract, which was within the approved budget of P213 million. The company shall undergo postqualification evaluation before the contract can be awarded.

The Malaya facility, which runs on diesel, provides backup power in instances when supply is not enough or unavailable in the Luzon grid.

The power plant is currently being overseen by STX Marine Service Co. Ltd., another South Korean firm.

The four-decade-old power plant underwent rehabilitation in 1995 through a 15-year rehabilitate-operate-manage-mantain agreement with Korea Electric Power Corp.