Negotiated contract for IMC looms Print
Saturday, 29 April 2017 13:40

By LIZA JOCSON

Zamcelco officials could possibly enter into negotiations for the Investment Management Contract if the second bidding for the program fails.

Power experts are concerned that this could be a big possiblity due to circumstances attending the second bidding for the IMC scheduled to take place this July.

In an interview with E-media, Romeo Bue ZAMCELCO Bids and Awards Chairman, said that there will be no amendments on the  present Terms of Reference of the IMC.

Recall that the two current bidders, Meralco and Aboitiz’s Davao Light, decided against submitting their bids for the IMC last March to ask more clarification about the program.

The two companies reportedly had concerns with the Terms of Reference of the Investment Management Contract.

BAC officials asked officials of the two companies to submit their concerns before the Holy Week.  Only Meralco reportedly submitted their list of concerns.

Despite the list of concerns submitted by Meralco, Bue said that the National Electrification Administration (NEA) did not authorize any changes in the current Terms of Reference contained in the present IMC.

As of press time, the two companies have decided not to withdraw their bids and are expected to participate in the second bidding for the IMC this July.

The two companies however will have to submit their bids for the IMC with the Terms of Reference that they initially questioned.

Meanwhile, Bue said that the second bidding for the IMC will be opened to other companies who are interested to participate.

At present, there is no information if other companies will participate in the IMC bidding.

Bue said that if the second bidding results to a failure, Zamcelco will have to enter into the IMC through negotiated contract.

The IMC is a way seen by the electric cooperative to bring in a private company to improve Zamcelco’s operations and financial status.

The electric cooperative faces bankruptcy due to at at least a billion pesos in debt owed to power suppliers.  (Liza Jocson)