15 firms seen to vie for Transco concession

By Abigail L. Ho
Last updated 07:49am (Mla time) 07/30/2007

FOLLOWING a recent roadshow in London, Singapore and Hong Kong, the Power Sector Assets and Liabilities Management Corp. says it has received informal expressions of interest from at least 15 entities for the 25-year National Transmission Corp. concession.


Froilan Tampinco, PSALM vice president for asset management and electricity trading, said the 15 entities included three that prequalified during the last bidding round for the concession agreement.


These included the group composed of Citadel Holdings Corp. (60 percent) and Italy’s Terna SPA (40 percent); the consortium of local firm Triratna Holdings Corp. (60 percent), Malaysia’s Tenaga Nasional Berhad (5 percent) and Newbridge Asia IV LP (35 percent); and the group of Monte Oro Grid Resources Corp. (60 percent) and China’s State Grid Corp. (40 percent).


Local firm Triratna is represented by SM Investments vice chair Henry Sy Jr., United Laboratories Corp. chair Joselito Campos Jr. and San Miguel Corp. president Ramon Ang.


A Canadian group and an Indian company had likewise expressed interest in bidding for the Transco concession, Tampinco said.


PSALM issued the bid invitation for the Transco concession last July 23. The bidding package would be released starting Aug. 1. Interested parties have until 5 p.m. on Aug. 24 to submit their expressions of interest.


The deadline for the submission of pre-qualification proposals had been scheduled for Sept. 21, with a pre-bid conference to be conducted on Nov. 5. All final bids should be in by 10 a.m. on Dec. 12.


For the third time since 2003, bidding for the 25-year Transco concession was declared a failure when only one of three prequalified bidders–the Citadel-Terna consortium–submitted its final technical and financial bid by the noon deadline on Feb. 5.


This time around, PSALM president Jose Ibazeta expressed confidence that Transco would be transferred to the private sector.


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