Philippines' Malaya thermal plant concludes rehab by end-June

The project had approved budget of PHP94m.

The Power Sector Assets and Liabilities Management Corp. (PSALM) is targeting to complete the rehabilitation of Malaya Thermal Power Plant’s Unit 1 this month.

According to a research note from Maybank Kim Eng, PSALM had awarded to STX Marine Service Co. Ltd. the operation and maintenance service contract of the Rizal-based power plant’s Unit 1.

The project had an approved budget of PHP94m, higher than STX’s offer for the project of PHP81m.