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 

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