State-run Power Sector Assets and Liabilities Management Corp. (PSALM) is seeking offers for P686 million worth of fuel requirements to run the government-owned Malaya Thermal Power Plant this year.

In a notice, PSALM said it is bidding out a one-year contract for the supply and delivery of industrial fuel oil for the 650-megawatt (MW) Malaya plant.

The state-run firm has approved a budget of P686.41 million for the contract.

The auction will be conducted through open competitive bidding procedures using a non-discretionary “pass or fail” criterion.

PSALM has set a pre-bid conference on Jan.6 for interested parties who will need to purchase bidding documents from PSALM and pay a non-refundable fee of P75,000.

Interested parties are required to make their respective offers on or before 10 a.m. on Jan.18.

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