Power barges up for bids to be brought to Mindanao

The Power Sector Assets and Liabilities Management Corp. said on Thursday that four investor groups will participate in the bidding for four diesel-fired power barges. A condition for the sale of the power barges currently stationed in the Visayas is for them to be transferred to Mindanao to augment the power supply in the region.

 

The four investor groups have completed the initial requirements for the privatization of  power barges 101, 102, 103 and 104.

 

The Power Sector Assets and Liabilities Management Corp, or PSALM, said the four prospective bidders, three of whom had previously participated in Psalm's bidding activities, submitted a letter of interest, paid a non-refundable participation fee of $3,000, and executed a confidentiality agreement and undertaking with PSALM before the July 4 deadline.

 

PSALM said all four bidders attended the pre-bid conference conducted at its Makati City office on July 5, in which the bidding procedures and transaction documents regarding the asset sale were discussed.

 

PSALM set the deadline for the submission of bids is on Aug. 15, 2012, at 12 noon, to be followed immediately by the bids evaluation.

 

PSALM said the sale of the power barges includes three packages: Package 1 combines PB Nos. 101 and 102; Package 2 includes PB 103; and Package 3 covers PB 104. 

 

PSALM said the bidding rules require bidders to submit offers for each of the three packages. 

 

Since the bidding for the four power barges has reached the second round, PSALM said it has the option to enter into a negotiated sale should the auction fail again.

 

The first round of bidding for the power barges held last May 16 was declared a failure after only one bidder submitted an offer before the deadline.

 

Commissioned in 1981, PB Nos. 101 and 102 are currently stationed at Bo. Obrero in Iloilo City. PB Nos. 103 and 104, which began operation in 1985, are moored in Botongon, Estancia, Iloilo, and at the Holcim Compound, Ilang, Davao City, respectively. — DVM, GMA News