China Firm chosen as preferred bidder for ₱1.59 billion offer to take ownership of AGUS VI Hydro Power plant in Mindanao

Chinese firm submits best bid for Agus power plant rehab in Iligan City, Mindanao

China's Guangxi Hydroelectric Construction Bureau and local joint venture (JV) partner ITP Construction Inc. submitted the best offer for the contract to rehabilitate and raise the power output of the Agus VI hydroelectric power plant, said Power Sector Assets and Liabilities Management (PSALM) Corp.

PSALM, a state-owned firm tasked to manage and privatize the remaining power assets of  National Power Corp., said in a statement that Guangxi Hydroelectric submitted the lowest offer of 1.59 billion during the Oct. 25 bidding for the upgrading of Units 1 and 2 of the Agus VI hydroelectric power plant.

The bid, PSALM said, could translate to potential savings of more than 1 billion for the government.

The other bid (1.68 billion) was from a group composed of HydroChina ZhongNan, Harbin Electric Machinery Co. Ltd. and BSP & Co. Inc.

PSALM said both bids were within the approved 2.6-billion budget for the contract.

A third potential bidder did not qualify, PSALM said.

PSALM bids and awards committee chair Manuel Marcos M. Villalon II said the winning bid was still subject to detailed evaluation and post-qualification to determine whether it was compliant with and responsive to the bidding requirements and conditions.

Agus 6 is part of the Agus-Pulangi hydroelectric power complex, which generates more than half of the power supplied to Mindanao. The government wants Units 1 and 2 to be uprated to 34.5 MW each (from 25MW) and to be fit for power generation for another 30 years.

"Specifically, the project will include the investigation, design, engineering, manufacturing, installation, testing and commissioning of the new hydropower turbines and blades of the two Agus VI power units. It also calls for the replacement of electrical equipment, materials and devices necessary for the safe and reliable operation of the power facilities. Upon the award, the project is expected to be completed within 900 calendar days," PSALM said. – Inquirer 

Share on Google Plus

About Webber

I am among of the writers and administrators of this web site. I always on the heads up when it comes to Sports, Politics, Economy, Business, Physics, Mathematics, Technology, computers and NEWS all over the world that triggers ny eyes and interests. I am working as a volunteer with other 14 administrators, researchers, writers and contributors. We are a strong solid team. Join us and be among of the contributor with your name on each posted article.

    Anonymous or Google Comment
    Facebook Comment

YOU MAY LIKE TO READ

LEARN FOREX TRADING AND GET RICH

Investment Recommendation: Bitcoin Investments

Live trading with Bitcoin through ETORO Trading platform would allow you to grow your $100 to $1,000 Dollars or more in just a day. Just learn how to trade and enjoy the windfall of profits. Take note, Bitcoin is more expensive than Gold now.


Where to buy Bitcoins?

For Philippine customers: You could buy Bitcoin Online at Coins.ph
For outside the Philippines customers  may buy Bitcoins online at Coinbase.com