3 bidders qualify for Sucat power plant

MANILA, Philippines - State-run Power Sector Assets and Liabilities Management Corp. (PSALM) has pre-qualified three firms to bid for the decommissioned 850-megawatt (MW) Sucat Thermal Power Plant (STPP) in Muntinlupa City.

Out of the six bidders who initially expressed interest to bid, only three companies were found to be fully compliant. These companies are Riverbend Consolidated Mining Corp., VPD Trading and G.G. Uy Bonapor Metal Contractor Co., PSALM said in a statement yesterday.

The three interested bidders passed the prequalification process undertaken by PSALM and will be allowed to participate further in the bidding process and are expected to submit their bids for the Sucat plant.

The state-run firm has scheduled tomorrow the opening of bids for the sale of the structures, plant equipment, auxiliaries and accessories of the STPP.

The sale also includes the obligation to clean up and remediate the site which means the buyer shall return the present site to ground zero (road level) free and clear of wastes, toxic substances, debris and structures.

 “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,” PSALM OIC Lourdes Alzona said earlier.