The Power Sector Assets and Liabilities Management Corp. (Psalm) has opened negotiations for the sale of the 650-megawatt Malaya Thermal Power Plant and its underlying land in Pililla town, Rizal province. In its invitation, Psalm said the minimum offer price for these power assets, being privatized on an “as is, where is” basis, was P2,007,780,000. Interested entities must first submit a letter of interest (LoI) and submit it to Psalm’s Privatization Bids and Awards Committee no later than 3 p.m. of October 22. Only those that submitted an LOI would be allowed to participate in the process. The negotiation package, which includes the negotiation procedures and asset purchase agreement, may be obtained from Psalm until October 22 after submitting an executed and notarized confidentiality agreement. Only those that have secured the package would be allowed to proceed further. A pre-negotiation conference is scheduled for October 23 at 2 p.m. via video conferencing or webcasting. Interested parties have until 12 noon of November to submit their offers to Psalm.