CBK privatization remains on track – PSALM

The privatization of the Caliraya-Botocan-Kalayaan (CBK) hydroelectric power plant could still be completed next year despite recent whispers of delays in the bidding process.

- By BRIX LELIS

Located in Laguna, the 797-megawatt (MW) power plant is the major privatization project of the Power Sector Assets and Liabilities Management Corp. (PSALM) this year and is a priority source of the government's non-tax revenues.

PSALM corporate planning specialist Recelo Celades told The STAR that the state-run firm is "still on track" to turnover the asset to the winning bidder next year.

"Participating qualified bidders for the CBK hydroelectric power plant privatization are promptly updated about changes, if any, in the privatization schedule," Celades said.

However, a qualified bidder informed The STAR that it has yet to receive any updates from PSALM regarding the revised bidding schedule.

Earlier, PSALM said it was expecting the bidding process to start this year.