NIA transfers 60% of CMIPP ownership to PSALM
NIA Central Office – The National Irrigation Administration (NIA), represented by Administrator Ricardo R. Visaya, and Power Sector Assets and Liabilities Management Corporation (PSALM), represented by President and Chief Executive Officer (CEO) Atty. Irene Joy Besido-Garcia, signed the Memorandum of Agreement (MOA) for the transfer of the 60% ownership share over the P33.75-billion Casecnan Multipurpose Irrigation and Power Project (CMIPP) to the latter on December 14, 2021 at NIA Administrator’s Conference Room, 2nd Floor, Building A. NIA Deputy Administrator for Administrative and Finance Sector Engr. Freddie M. Toquero and Central Office Department Managers were present during the MOA Signing.
The memorandum is pursuant to the Economic Development Cluster (EDC) Resolution No. 02, series of 2021, providing the resolution that NIA shall implement the transfer of its 60% ownership share over CMIPP to PSALM. Under the memorandum, NIA agreed that PSALM shall procure the Operation and Maintenance (O&M) Service Contract under Republic Act No. 9184 (Government Procurement Reform Act) to operate, manage, and maintain CMIPP’s power generation facilities and non-power generation facilities, such as weather stations and access roads from December 11, 2021 until its eventual privatization.