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France's Suez-Tractebel declared highest bidder for Philippines' Calaca plant


Published : Tue, 16 Oct 2007 09:44
By : Agencies
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MANILA (Thomson Financial) - France's Suez Tractebel submitted the highest bid of 786.5 million US dollars at an auction Tuesday to acquire ownership of the Calaca coal-fired power plant, the Philippines' Power Sector Assets & Liabilities Management Corp (PSALM) said.

Suez Tractebel, an independent power producer, will be officially declared the winning bidder immediately after a review of its offer, PSALM said in a statement.

Philippine-listed First Gen Corp and AES Corp were the two other bidders for the 600-megawatt power plant located in the province of Batangas, south of Manila.

enrico.delacruz@thomson.com

ed/jg

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