THE Power Sector Assets and Liabilities Management Corp. (PSALM) has awarded to a Korean firm a one-year contract to operate and maintain the 650-megawatt Malaya Thermal Power Plant in Pililla, Rizal after a detailed evaluation of the winning bidder’s financial documents.

Psalm, the agency involved in the privatization of the government’s power assets, earlier approved a budget of P451.3 million for the procurement of the one-year operation and maintenance service contract (OMSC).

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