According to the stock exchange filed by San Miguel, Power Sector Assets & Liabilities Management (PSALM) will issue a ‘certificate of effectivity’ for the project to Korea Water.
The company told the Bloomberg on 29 July that it was in talks with the Korean utility on teaming up to own and operate the plant in Bulacan province, 36 miles north of Manila.
Back in 2010, KWR posted the highest bid for the facility, offering the government $440.9m.
The Philippine Supreme Court halted the award in May 2010 before upholding its validity in October 2012.
