Gov't sets schedule for privatization of Bataan plant

MANILA, Philippines- The Power Sector Assets and Liabilities Management Corp., the government agency tasked to sell the country's power assets, plans to start the privatization process for the 620 megawatt Limay Combined Cycle Plant in Bataan by the end of the month. In its Invitation to Bid published in major dailies, PSALM required interested parties to submit a Letter of Interest, execute a Confidentiality Agreement and Undertaking until May 30, 2008. Bidding has been scheduled one month after, or on June 30. Commissioned in 1993, the Limay combined-cycle power plant comprises two 310-MW modules, Blocks A and B, which consist of three 70-MW gas turbines and a 120-MW steam turbine, respectively. Located in the province Bataan, approximately 145 kilometers west of Manila, the plant is designed to meet the base-load demand of the Luzon grid. A combined-cycle power plant such as the Limay plant generates electricity in two ways: A combination of bunker and diesel fuel is primarily used to power its gas turbines. Aside from the LOI and Confidentiality Agreement, PSALM said interested bidders are also required to pay the non-refundable participation fee of $2,000. The Bidding Package, which includes the Bidding Procedures, will be issued to compliant parties beginning May 19 until the 30th of this month. PSALM also announced that the Due Diligence period will be from 21 May to 28 July 2008. The Pre-bid Conference for qualified participants of the Limay plant bid is scheduled on June 4, 2008. - GMANews.TV