The Power Sector Assets and Liabilities Management Corporation (PSALM) commenced last Monday (15 June 2009) the second round of bidding for the 55-megawatt Naga Land-Based Gas Turbine (LBGT) Power Plant through the publication of an Invitation to Bid (ITB).

The ITB, which will be published in local newspapers until today, 17 June 2009, states that investor groups who wish to participate in the bid have until 5 p.m. of 01 July 2009 to submit a Letter of Interest.

Interested parties are likewise required to execute and undertake a Confidentiality Agreement with PSALM, and pay a non-refundable Participation Fee of USD2,000. The deadline for completing these initial requirements is on 03 July 2009.

The Due Diligence for the Visayas-based gas plant is scheduled from 15 June 2009 to 14 September 2009, while the Pre-Bid Conference for prospective bidders is set on 15 July 2009 at the PSALM office in Makati City.

The Bid Submission Deadline for the Naga LBGT plant, which is located at the Cebu I Power Plant Complex in Barrio Colon, Naga, Cebu Province, is on 16 September 2009.

The first round of bidding for the Naga power facility held last 20 April 2009 was declared a failure because only one investor submitted the documentary requirements.