PSALM reduces bid price of Malaya plant


State-run Power Sector Assets and Liabilities Management Corp. lowered the minimum offering price of the 650-megawatt Malaya Thermal Power Plant (MTPP) to P1.845 billion in the hopes of successfully raising investor interest in the third round of negotiated sale process.

In an invitation to negotiate and submit offer signed by PSALM president Irene Garcia, the agency asked interested parties to join the third round of negotiated sale and submit bid for the privatization of MTPP and its underlying land in Pililla, Rizal.

PSALM said any offer below the minimum price will be rejected outright. It set the submission of letters of interest on March 5.

The pre-negotiation conference is scheduled on March 9 while the submission deadline is set on April 23, 12 noon. 

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