PSALM offers Malaya Thermal Power Plant at a lower minimum price for the third round of negotiated sale

05 Feb 2021

The Power Sector Assets and Liabilities Management Corporation (PSALM) is offering to bidders the Malaya Thermal Power Plant (MTPP) and its underlying land for a minimum offer price (MOP) of PHP1,845,222,000.00. This amount is lower than the MOP offered in the second round of negotiated sale process at PHP2,007,780,000.00. Financial offers lower than this current MOP will be rejected outright.

“Compelling factors such as lower electricity demand, book value of the plant and its land, impact of the Covid pandemic on the market, the zonal value of the land, and the substantial losses incurred by PSALM from maintaining MTPP were all considered before deciding to offer this asset at a lower price,” PSALM President and Chief Executive Officer, Irene Joy Besido-Garcia, explained.

Interested parties must submit a Letter of Interest (LOI) to the Privatization Bids and Awards Committee (PBAC) through their email address at pbacsecretariat@psalm.gov.ph or at the PSALM Office with address at the 24th Floor Vertis North Corporate Center 1, Astra corner Lux Drives, North Avenue, 1105 Quezon City, Philippines, no later than 3:00 PM on 05 March 2021.

Only interested parties who submitted an LOI will be allowed to participate in the negotiated sale process for the MTPP. Details of the negotiated sale can be viewed and downloaded from the PSALM website at www.psalm.gov.ph.

To address queries on the sale provisions of the asset, a Pre-Negotiation Conference will be held on 09 March 2021 at 2:00 PM while the Offer Submission Deadline is scheduled on 23 April 2021 at 12:00 noon.

Corporate Communications Division
Tel. No. (632) 9029067