The Power Sector Assets and Liabilities Management Corp. (PSALM) has set a minimum bid price of P741.327 million for its 50,447-square meter real estate property in Mexico, Pampanga.
The asset used to be the site of the transshipment warehouse facility of the National Power Corp.’s (NPC) North-Luzon generation and transmission projects. The property was transferred from NPC to PSALM by virtue of Republic Act 9136, also known as the Electric Power Industry Reform Act.
In a bid invite, the state-run firm has set the deadline for bid submission on October 20. Opening of bids will take place on the same day.
A pre-bid conference will be held on September 15 to provide an opportunity for prospective bidders to raise questions pertinent to the terms of the sale.
Interested bidders are required to pay a nonrefundable participation fee of P100,000,00.
PSALM said the property is appropriate for commercial land development and is accessible via the North Luzon Expressway, Subic-Clark-Tarlac Expressway, MaC Arthur highway and Jose Abad Santos Avenue. It is also near community centers like schools, hospitals, and major shopping malls. PSALM said the winning bidder may redevelop the area for wholesale and retail stores, shops and supermarkets. The property can also benefit from the planned Manila-Clark Railway system, which will be completed within the last quarter of this year.
