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MANILA - Power Sector Assets and Liabilities Management Corp. has begun the second round of bidding for National Power Corp.'s power barges.
State-run Psalm on Wednesday released the invitation to bid for PB Nos. 101, 102, 103 and 104.
"Psalm is committed to ensure the successful privatization of the power barges not only as part of our mandate but also as government's contribution to stabilizing the power situation in Mindanao where the power barges will eventually be transferred," Emmanuel R. Ledesma Jr., Psalm president and chief executive officer, said.
The invitation to bid states that Psalm will accept letters of interest from prospective bidders not later than 5:00 p.m. of July 3.
For the issuance of the bidding package, Psalm requires interested parties to execute a confidentiality agreement and undertaking, as well as pay a non-refundable participation fee of $3,000 on or before 5:00 p.m. of July 4.
Psalm will conduct a pre-bid conference on July 5 at its Makati City office. This will provide prospective bidders the opportunity to raise their concerns regarding the sale of the barges.
Bidders may also provide written comments and suggestions on the draft purchase agreement to improve its terms and conditions pursuant to the instruction of the Department of Energy.
The bidding will be held on August 15, and bids will be received until 12:00 p.m. Bid evaluation will immediately follow.
Ledesma said that Psalm has the option to enter into a negotiated sale in case the second round of bidding fails.
The first auction failed after only one bidder made it to the deadline.
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