Construction company and real estate developer D.M. Wenceslao & Associates Inc. submitted a letter of intent to participate in the privatization of the 650-megawatt Malaya Thermal Power Plant and its property in Barangay Malaya, Pililia, Rizal.
“D.M. Wenceslao submitted a letter of intent and purchased bidding package. He is our 11th bidder,” Power Sector Assets and Liabilities Management Corp. president Irene Joy Besido-Garcia said.
D.M. Wenceslao confirmed that its board granted authority to chief operating officer and director Paolo Vincent Wenceslao to issue a letter of interest to receive all pertinent documents, communications, correspondences, notices, and legal processes, including but not limited to the supplemental bid bulletin and asset purchase agreement of the Malaya power plant.
Wenceslao will also sign for and on behalf of the company all the necessary documents required in such privatization process.
D.M. Wenceslao is an integrated property developer with expertise in land reclamation, construction and real estate development. It is the master developer and primary owner of Aseana City, a development project with a total land area of 107.5 hectares located along Manila Bay.
The company has reclaimed more than 2.4 million square meters of land, leased or developed 245,000 square meters of land and buildings and completed over 100 construction and infrastructure projects including large, complex government developments across the Philippines.
Other interested bidders for the Malaya power complex are Phinma Energy Corp., Korean firm STX, AC Energy Inc. of the Ayala Group and SMC Global Holdings Corp. of San Miguel Corp.
“It is hoped that the transition of Malaya to private ownership will be a win-win venture for both the government and the winning bidder,” PSALM said in a statement earlier.
Bid submission deadline is on Dec. 14 at 12 noon at the PSALM Office.
The Malaya plant consists of a 300-MW unit with a once-through type boiler and a 350-MW unit fitted with a conventional boiler.