Philippine's PSALM relaunches Malaya power plant privatization

The Power Sector Assets and Liabilities Management (PSALM) Corporation, a state-owned corporation in the Philippines, has commenced its third round of public bidding for the 650 MW Malaya Thermal Power Plant (MTTP) and its underlying land located at Brgy. Malaya, Pililla, Rizal.

PSALM has published its “Invitation to Bid”, encouraging interested parties to participate in its bidding activities starting February 3, 2020, until March 12, 2020. Only parties who submitted Letters of Interest and who have been issued PSALM’s Bidding Package will be allowed to participate in the privatization of the assets. 

PSALM will hold a pre-bid conference on February 13, 2020, at 2:00 PM to solicit any comments and concerns that interested bidders may have relative to the bidding requirements and asset sale provisions. The bid opening is set on 15 April 2020.

Interested bidders must address their bids to the PSALM Bids and Awards Committee (PBAC) Chairperson and send to PSALM’s office at 24th Floor, Vertis North Corporate Center Tower 1, Astra corner Lux Drives, Vertis North, Mindanao Avenue, 1105 Quezon City.

PSALM is determined to privatize the asset, which is sold on an “as-is-where-is” basis, by taking the necessary steps to adjust the minimum bid price. It has also conducted valuation studies on MTPP and its underlying land in determining the reserve bid price.

The Bidding Procedures can be downloaded from the PSALM website.