IMC bidding to be completed in 30 days Print
Monday, 02 July 2018 13:31

By RG antonet go

The Zamboanga City Electric Cooperative (Zamcelco) has given a timeline of 30-days to complete the bidding for the Investment Management Contract (IMC).

This amid beliefs expressed by San Ramon Power Inc. (SRPI) that another bidding for the IMC will cause further delays in the IMC deal.

"The rebidding option as we see it will cause further delay. If that is the route they will have to take, it would mean further delays both on the IMC and the plant," said Archie Donato, Officer-in-Charge of the SRPI project in Zamboanga City.

Donato is referring to SRPI’s coal-fired power plant, the construction of which depends on the IMC.

Donato said that the better option is to take a second look at the Meralco-Comstech proposal, which was reportedly withdrawn during a meeting with Zamcelco officials last  Monday.

In interviews late last week however, Zamcelco President Omar Sahi said that the Comstech proposal had not been withdrawn.

Comstech reportedly asked for an additional thirty (30) days to study the IMC provisions.  Zamcelco board members however refused to wait and instead decided to hold another bidding, its fourth, for the IMC.

Sahi said that Meralco-Comstech can still participate in the bidding.

Reports also surfaced that another power entity, which remains unidentified, has expressed interest in joining the fourth bidding for the IMC.  (RGAAGo)