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).
Emmanuel Ledesma Jr., PSALM president and chief executive officer, said that after recalculating the bid submitted by STX Marine Service Co. Ltd., the initial offer of P302 million was lowered to P298 million, which turned out to be the lowest bid for the plant.
This prompted PSALM to award the Malaya contract to STX Marine on September 30.
Besides offering the lowest bid, STX Marine has complied with all the requirements and conditions of the bidding process, according to Ledesma.
STX Marine’s original bid as read during the bid opening held on August 12 was P302 million. It was lower than the P429-million offer of second bidder SPC Malaya Power Corp., which is the current O&M provider of the Malaya TPP.
STX Marine is engaged in the design, construction, supervision and repair of systems and equipment related to energy. The company is also a provider of maritime solutions, and among its services are ship management, marine transportation and brokerage, and ship design, construction, leasing and repair.
The Malaya TPP is located in Pililla, Rizal Province, and is being managed by PSALM through an OMSC. It consists of a 300-MW unit with a once-through type boiler and a 350-MW unit fitted with a conventional boiler.
The thermal plant was rehabilitated in 1995 by Korea Electric Power Corp. under a 15-year rehabilitate-operate-manage-maintain agreement.