Thursday, July 26, 2007 Nat'l transmission company to be auctioned off anew
THE Power Sector Assets and Liabilities Management (Psalm) Corporation has opened a new round of biddings for the 25-year concession contract to construct, finance, operate and maintain the facilities and assets of the National Transmission Corporation (Transco).
The Psalm is giving interested bidders until September 21 to submit their prequalification proposals while expression of interest from prospective bidders will be until August 24. The bidding package will be issued starting August 1 until the prequalification proposal submission deadline on September 21.
The pre-bid conference for qualified participants in the bidding for the Transco concession contract will be held on November 5 at the Psalm office in Makati City and the bid date will be on December 12.
Psalm earlier conducted road shows in London, Dubai, Singapore and Hong Kong on Transco.
Psalm president Jose C. Ibazeta and vice president for asset management and electricity trading Froilan A. Tampinco, along with representatives of the Department of Energy (DOE) and the Department of Trade Industry (DTI), met with investment groups whose inputs are expected to effectively enhance the bidding for the Transco concession.
Ibazeta expects the offer of the World Bank to provide up to US$250 million as standby facility support for Transco concession to further boost the auction five months from now.
In order to qualify, prospective bidders must have the financial and technical capability and experience to operate and maintain electricity transmission systems comparable to that of the Philippines.
Last February, Psalm declared the bidding of Transco a failure after only one consortium - the Terna SpA and Citadel Holdings, submitted bid documents. (MSN/Sunnex)
