Power Sector Assets and Liabilities Management Corp. said it will privatize the 650-megawatt Malaya thermal power plant in Pililla, Rizal by March 2017.
PSALM said in an invitation to bid signed by privatization, bids and awards committee chairman Lourdes Alzona the power plant would be privatized on an “as is, where is” basis.
The agency gave interested bidders until Dec. 20 to submit their letter of interest.
“The committee reserves the right to accept or reject any interested party or bidder or proposal or bids therefrom, or any part thereof, and/or to waive any defects contained therein and accept the offer advantageous to the government, without offering any reason whatsoever,” Alzona said.
The bidders can conduct the due diligence from Dec. 6 to March 6, 2017 while a bid conference will be held on Jan. 6, 2017. Actual bid submission is scheduled on March 8, 2017.
PSALM manages the assets and liabilities of National Power Corp. as mandated by the Electric Power Industry Reform Act of 2001.