A state-owned firm’s bid to sell the site of a former power plant in Manila has been declared a failure after prospective buyers backed out.

The Power Sector Assets and Liabilities Management Corp. (PSALM) had set an August 15 deadline for offers to purchase the 20,975-hectare Manila Thermal Power Plant property, located on Isla de Provisor on the Pasig River, on an “as is where is” basis.