INQUIRER.net: PSALM cancels Naga power complex bidding

INQUIRER.net Philippine News for Filipinos

PSALM cancels Naga power complex bidding Jul 22nd 2013, 00:51 MANILA, Philippines—The Power Sector Assets and Liabilities Management (PSALM) Corp. has called off Wednesday's tender of the 153.1-megawatt Naga Power Plant Complex in Cebu, citing lack of qualified bidders.   In a text message, PSALM president and CEO Emmanuel R. Ledesma Jr. said only one of three prospective bidders that submitted "documentary deliverables" was prequalified.   "Disqualified bidders were not compliant with certain financial/technical requirements," Ledesma said.   The Naga facility may be rebidded "within the year," Ledesma added.   Bid submission for the NPPC auction was originally scheduled on July 24, after... Keep on reading: PSALM cancels Naga power complex bidding Media files: psalm.jpg (image/jpeg)

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