Philippines: Riverbend Mining wins Sucat Power Plant bid

Philippines: Riverbend Mining wins Sucat Power Plant bid

THE RIVERBEND CONSOLIDATED MINING CORP. BECAME THE HIGHEST BIDDER FOR THE
DECOMMISSIONED 850-MEGAWATT (MW) SUCAT THERMAL POWER PLANT IN MUNTINLUPA
CITY.

"Riverbend was declared the bidder with the highest offer after it bested
two other companies with its P305,200,000.00 proposal," Power Sector Assets
and Liabilities Management Corp (PSALM) officer-in-charge said.

The PSALM Privatization, bids and awards committee will report the results
of the sale to their board which will be followed by issuing a Notice of
Award upon completion of the post-qualification process.

"The successful sale of this asset advances the interest of the government
as the proceeds will be part of the additional funding source for the
liquidation of the National Power Corp.'s debts assumed by PSALM," Alzona
earlier said.

The winning bidder of the Sucat plant is obliged to dismantle, clean-up and
remediate the site - returning the present site to ground zero and free of
clear wastes, toxic substances, debris, and structures.

Used to be the Gardner Synder Thermal Plant, the plant went into commercial
operations back in 1968 with its first unit.

Units 1 and 4 were decommissioned in January 2000, while Units 2 and 3 were
shut down two years after.

The Sucat plant was placed on sale twice - in 2014 and 2016 - only to be
declared as failed biddings.

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Link to Original Article:
http://powerphilippines.com/2017/06/01/riverbend-mining-sucat-power-plant-bi
d/

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com