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Manila DMCI makes top $361.7 mln bid for power plant

Wed Jul 8, 2009 2:47am EDT

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MANILA, July 8 (Reuters) - Philippine conglomerate DMCI Holdings Inc (DMC.PS) submitted the highest bid of $361.7 million at a state auction for the 600-megawatt Calaca coal-fired plant, the government said on Wednesday.

DMCI's offer exceeded the government's floor price, a spokesman at the Power Sector Assets and Liabilities Management Corp told Reuters. The company was one of two bidders that showed up for the state auction of the power plant which French utility Suez (LYOE.PA> gave up earlier this year. (Reporting by Karen Lema; Editing by Rosemarie Francisco and Muralikumar Anantharaman)



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