Six companies have expressed interest in the privatization of the decommissioned 850 megawatt (MW) Sucat Thermal power plant (STPP) in Muntinlupa City, the Power Sector Assets and Liabilities Management Corp. (PSALM) said.
The bidders include the United Metro Steel Philippines Corp., Riverbend Consolidated Mining Corp, Aluminum Recycling Specialist Inc., VPD Trading, Azzions Recycling Solutions Inc., and the GG Uy Bonapor Metal Contractors, PSALM officer-in-charge Lourdes Alzona said.
“Note that all these bidders will still be subject to pre-qualification evaluation,” Alzona added.
The six companies have attended the pre-bid conference which was to clarify provisions on the sale of STPP and help the bidders arrive at an optimal business decision.
The state-run firm will continue to accept Letter of Interest (LOI) for the plant until April 24, while the bid opening is set on May 31.
“The successful sale of this asset advances the interest of the government as the proceeds will be part of the additional funding source for the liquidation of the National Power Corp.’s debts assumed by PSALM,” Alzona said.
The Sucat plant has been placed for sale twice in 2014 and 2016, but both were declared failed biddings.
The sale included all structures, plant equipment, auxiliaries, and accessories of the STPP.
The Sucat thermal plant consists of Unit 1 with a rated capacity of 150 MW; Units 2 and 3 with 200 MW each; and Unit 4 with 300 MW.