PSALM announces auction for Limay, Bataan sites

By Angelica Y. Yang – October 6, 2021 | 8:33 pm
from Business World

THE Power Sector Assets and Liabilities Management Corp. (PSALM) announced an auction of property in Barangay Luz and Barangay Kitang II in Limay, Bataan, setting the floor price at a combined P250.43 million.

In a statement issued late Tuesday, PSALM said that the sites are suitable for industrial and energy-related development as they are near the Limay Substation. Some portions are also suited for residential development, it added.

“These assets used to be the site of the decommissioned Bataan Thermal Power Plant and of the housing compound for the plant’s employees. Currently, there remain a few building structures and other improvements on the assets but are no longer usable unless repaired,” PSALM said.

The two Limay assets cover an estimated 139,000 square meters, divided into 14 lots. Their sale will be on an “as-is, where-is” basis.

The pre-bid conference for the property was set for Oct. 12 at 2 p.m. at PSALM’s office in Quezon City, with virtual participation available.

PSALM will be accepting bids until Nov. 5 at 2 p.m., with the opening and evaluation of bids to immediately follow. 

Interested parties must pay a non-refundable participation fee of P100,000 at least two days before the bid submission deadline. Prospective bidders may download the bidding package for the Bataan assets on PSALM’s website.

Proceeds from the sale will help PSALM settle outstanding debt assumed from the National Power Corp. (Napocor)

Under the Electric Power Industry Reform Act of 2001, the wholly-owned government corporation is required to liquidate all of Napocor’s financial obligations.