PSALM selling Iligan power plant assets

BusinessWorld Online
August 8, 2013

THE POWER Sector Assets and Liabilities Management Corp. (PSALM) is seeking offers to purchase various disposable assets, worth P32 million, of the 98-megawatt (MW) Iligan diesel power plant.

In a notice published yesterday, PSALM’s Bids and Awards Committee said it will dispose unserviceable assets of the plant in Lanao del Norte — which was already turned over to Mapalad Power Corp. in the first quarter of this year.

Specifically, PSALM is seeking bids for a fuel tank and associated pipeline, as well as the stock fuel of the power plant.

The remaining fuel consists of 2.27 million liters of industrial fuel oil, 73,873 liters of industrial diesel oil, and 7,435 liters of engine lubricating oil.
BusinessWorld Online
August 8, 2013

PSALM has set a minimum bid price of P32 million for the assets, and interested parties should pay a non-refundable fee of P10,000 for the bidding documents.

The state firm has scheduled the auction for Sept. 4, with a pre-bid conference on Aug. 23.

PSALM was formed under Republic Act 9136 or the Electric Power Industry Reform Act of 2001 to assume ownership of and manage all of National Power Corp.’s assets, liabilities, contracts with independent power producers, real estate and other disposable assets. — Claire-Anne Marie C. Feliciano

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