PSALM takes comfort from high scrap prices
Malaya, Jan. 6, 2005
Fresh from the controversial $566.95 million sale of the Masinloc coal-fired power plants, the Power Sector Assets and Liabilities Management Corp. now takes comfort from the fact that prices for scrap metal is high.
PSALM yesterday official began the sale of decom-missioned power plants with the publication yesterday of the invitation to bid for the 200 megawatt (MW) Manila Thermal Power Plant.
The Manila Thermal Plant is the first of the four non-operational plants that will be sold by the first quarter.
PSALM President Raphael Lotilla said that while the Manila plant is well maintained, the government takes comfort and will take advantage of the good market for scrap metal to obtain optimal value".
He said that Manila Thermal's components have been kept in such good condition by National Power Corp. personnel they can be used as replacement parts for operational plants.
PSALM Vice President for Asset Valuation and Disposal Froilan A.
Tampinco said all the major plant systems of Manila Thermal are intact, and major equipment such as the generating unit are under preservation.
The sale of Manila Thermal will follow the same format of open and competitive bidding used from last year's successful sales, Tampico explained.
He added that PSALM will maintain a level playing field by keeping all bidders equally informed about the asset and the bid procedures.
PSALM is also set to bid out the 54 MW Cebu II plant in March, the 22.3 MW General Santos plant in April, and the 104 MW Aplaya plant in May this year.
All the said plants are decommissioned.
Thus far, PSALM has bid out the Talomo Hydroelectric Plant (HEP) for $1,370,000.00, the Agusan HEP for $1,528,000.00, the Barit HEP for $480,000.00, the Cawayan HEP for $410,410.00, the Loboc HEP for $1,420,000.00, and the Masinloc Coal-Fired Power Plant for $561,740,000.88, or total bid offers of $566,948,410.88.
Fresh from the controversial $566.95 million sale of the Masinloc coal-fired power plants, the Power Sector Assets and Liabilities Management Corp. now takes comfort from the fact that prices for scrap metal is high.
PSALM yesterday official began the sale of decom-missioned power plants with the publication yesterday of the invitation to bid for the 200 megawatt (MW) Manila Thermal Power Plant.
The Manila Thermal Plant is the first of the four non-operational plants that will be sold by the first quarter.
PSALM President Raphael Lotilla said that while the Manila plant is well maintained, the government takes comfort and will take advantage of the good market for scrap metal to obtain optimal value".
He said that Manila Thermal's components have been kept in such good condition by National Power Corp. personnel they can be used as replacement parts for operational plants.
PSALM Vice President for Asset Valuation and Disposal Froilan A.
Tampinco said all the major plant systems of Manila Thermal are intact, and major equipment such as the generating unit are under preservation.
The sale of Manila Thermal will follow the same format of open and competitive bidding used from last year's successful sales, Tampico explained.
He added that PSALM will maintain a level playing field by keeping all bidders equally informed about the asset and the bid procedures.
PSALM is also set to bid out the 54 MW Cebu II plant in March, the 22.3 MW General Santos plant in April, and the 104 MW Aplaya plant in May this year.
All the said plants are decommissioned.
Thus far, PSALM has bid out the Talomo Hydroelectric Plant (HEP) for $1,370,000.00, the Agusan HEP for $1,528,000.00, the Barit HEP for $480,000.00, the Cawayan HEP for $410,410.00, the Loboc HEP for $1,420,000.00, and the Masinloc Coal-Fired Power Plant for $561,740,000.88, or total bid offers of $566,948,410.88.
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