PSALM to launch negotiation sale process for Malaya Thermal Power Plant

The Power Sector Asset and Liabilities Management (PSALM) Corporation Privatization Bids and Awards Committee has extended the invitation to interested parties to join the third round of negotiated sale process for the privatization of the Malaya Thermal Power Plant and the land underlying the project located in Pililla, Rizal. 

The Minimum Offer Price (MOP) for the assets in the third round of negotiation is PHP1.845 billion (US$37.9 million). Any financial offer submitted lower than the MOP shall be rejected outright.

The interested party must first submit a Letter of Interest (LOI) to the committee to participate in the third round of negotiated sale process. Once an interested party submits the duly executed Confidentiality Agreement and Undertaking, such interested party may no longer be constituted in the third round of negotiated sale process, except through a consortium or joint venture in accordance with the terms and conditions of the Negotiation Procedures. 

Those who were previously disqualified from participating in other bidding or negotiated sale activities of PSALM by reason of fraudulent acts or those who committed fraud or a breach in the provision of any agreements with PSALM are also disqualified to participate in the current negotiation. 

The deadline for the submission of the offer is on April 23, 2021. 

Full details of the invitation to bid can be accessed here.