THE Riverbend Consolidated Mining Corp. submitted on Wednesday the highest offer for the sale of the structures, plant equipment, auxiliaries and accessories of the decommissioned 850-megawatt Sucat Thermal Power Plant in Muntinlupa City.
“Riverbend was declared the bidder with the highest offer after it bested two other companies with its P305.2-million proposal,” Power Sector Assets and Liabilities Management (PSALM) Corp. Officer in Charge Lourdes Alzona said.
Based on the asset-sale provisions, the winning bidder has the obligation to dismantle, clean up and remediate the site, which means the buyer shall return the present site to ground zero (road level) free and clear of wastes, toxic substances, debris and structures.
The PSALM Privatization, Bids and Awards Committee will report the results of the sale to the PSALM board, then subsequently issue a Notice of Award upon completion of the postqualification process.
The two other companies who joined the bidding were VPD Trading and GG Uy Bonapor Metal Contractor Co. with financial offers of P201.6 million and P168 million, respectively. The Sucat plant was operational for 33 years before Units 1 and 4 were decommissioned in January 2000, and Units 2 and 3 were shut down in January 2002.