INQUIRER.net
2:13 pm | Friday, August 23rd, 2013
MANILA, Philippines–Publicly-listed Vivant Corporation will bid for four power barges being auctioned off by the Power Sector Assets and Liabilities Management Corp. (PSALM).
In a statement Friday, Vivant said each power barge has an installed capacity of 32 MW and were all commissioned in the 1980s. The asset sale is divided into two packages. Package one consists of Power Barges (PB) 101, 102 and 103 while PB 104 is being auctioned separately.
After submission of the initial requirements set by (PSALM), Vivant shall proceed with due diligence to assess the technical and financial viability of the assets. Deadline for submission of bids is on October 9. Opening and evaluation of bids will follow, the statement said.
After two rounds of failed bidding, PSALM introduced changes in the bid package to address some concerns raised by interested parties.
Under the new terms, PB 101-103 which are located in Iloilo would no longer be required to be transferred to Mindanao. PB 104, which is presently moored in Davao City, is still required to be operated in Mindanao for at least five years.
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Tags: auction , Business , energy sector , power barges , PSALM , vivant corporation
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