Energy officials hold Transco roadshow in Europe, Canada

The Power Sector Assets and Liabilities Management Corp. (PSALM) and the National Transmission Corp. (Transco) have successfully pulled off an international roadshow in Europe and Canada for the sale of Transco assets.

"There are new names that have expressed interest to bid for Transco assets. The response was better-than-expected," Transco president Alan Ortiz said in a telephone interview.

Sources said Ortiz and PSALM president Edgardo del Fonso left last night for Bangkok, Thailand to kick off the first round of an Asian roadshow for Transco. The two officials will be back by Friday.

By Monday or Tuesday next week, Ortiz said they will submit the results on their European roadshow to Energy Secretary Vincent S. Perez.

Immediately after the Holy Week, Ortiz said they will continue on to Singapore, Hong Kong, Malaysia and Japan.

Ortiz is optimistic that they can solicit the same warm response from Asian investors.

"Many of the European and Canadian investors have expressed eagerness to know how they can join the Transco privatization," he said.

According to the Transco chief, these European and Canadian investors were not so concerned about the absence of Transco franchise bill.

"The way we presented it to them, it appeared that they can live without it or prefer not to have it," he said.

So far, there are at least 14 firms that have signified an interest in joining the bidding. Of these, nine are foreign and five are local.