PSALM sets floor price of Malaya at P4.48 billion

State-run Power Sector Assets and Liabilities Management Corp. announced a floor price of P4.481 billion on the 650-megawatt Malaya thermal power plant in Pililla, Rizal a few days ahead of its rebidding.

“The Privatization, Bids and Awards Committee hereby informs all qualified bidders of the reserve price set by the PSALM board for the sale of the 650 MW  Malaya thermal power plant and its underlying land in Pililla, Rizal  (of) P4,481,796, 017,” PSALM president Irene Garcia said.

The PSALM board earlier approved the disclosure of the reserve price for the  Malaya power plant bidding to increase investor interest.

PSALM will rebid the Malaya thermal power plant and its underlying land in Pililia, Rizal on November 22. PSALM declared the bidding on September 18 a failure after only one submitted an offer.

“I am optimistic that we can privatize Malaya at this second round of bidding,” Garcia said.

Four companies earlier expressed interest to participate in the Malaya power plant rebidding, namely Panasia Energy Inc., Phinma Energy Corp. (AC Energy Philippines Inc.), Hill Trench Power Inc. and Therma Central Visayas Inc. 

Topics: Power Sector Assets and Liabilities Management Corp. , Malaya thermal power plant , Irene Garcia
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