New PSALM chief to stick to old goals
03/26/2007 | 04:10 PM
Power Sector Assets and Liabilities Management Corp. president Jose Ibazeta will stick to the goals set by his predecessor, on Monday promising to dispose off 50 percent of the National Power Corp.’s generating assets this year.
“This is the same target set by former PSALM president Nieves Osorio. Mr. Ibazeta will try to hit the same target by the end of 2007. Under Ibazeta, PSALM is re-committing similar target," PSALM vice president for asset management and electricity trading group Froilan Tampinco said.
Ibazeta took over Osorio’s post last March 1. Osorio tendered her resignation less than three weeks after PSALM failed to bid out the 25-year concession to operate the assets of the National Transmission Corp.
The current PSALM chief, who served on the board of port operator International Container Terminal Services Inc. before his appointment by President Gloria Macapagal Arroyo, has promised to make every privatization process of Napocor assets successful.
“There should be no more failed bidding. That is our goal," Ibazeta said in an earlier interview.
By July this year, PSALM will re-bid the 600 MW Masinloc coal-fired power plant. The disposal of the 600-MW Calaca coal-fired power facility is next after this.
For 2007, PSALM is also targeting to sell decommissioned plants like the Manila Thermal and Bataan Thermal.-GMANews.TV
“This is the same target set by former PSALM president Nieves Osorio. Mr. Ibazeta will try to hit the same target by the end of 2007. Under Ibazeta, PSALM is re-committing similar target," PSALM vice president for asset management and electricity trading group Froilan Tampinco said.
Ibazeta took over Osorio’s post last March 1. Osorio tendered her resignation less than three weeks after PSALM failed to bid out the 25-year concession to operate the assets of the National Transmission Corp.
The current PSALM chief, who served on the board of port operator International Container Terminal Services Inc. before his appointment by President Gloria Macapagal Arroyo, has promised to make every privatization process of Napocor assets successful.
“There should be no more failed bidding. That is our goal," Ibazeta said in an earlier interview.
By July this year, PSALM will re-bid the 600 MW Masinloc coal-fired power plant. The disposal of the 600-MW Calaca coal-fired power facility is next after this.
For 2007, PSALM is also targeting to sell decommissioned plants like the Manila Thermal and Bataan Thermal.-GMANews.TV
