PSALM sets bid price for Pampanga property

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 was once the site of the transshipment warehouse for the National Power Corp. production and transmission projects. (NPC) North Luzon. Ownership was transferred from NPC to PSALM under Republic Law 9136, also known as the Electric Power Industry Reform Law.

In a call for tenders, the crown corporation set the deadline for submitting tenders for October 20. The opening of tenders will take place on the same day.

A pre-bid conference will be held on September 15 to allow potential bidders to raise questions relating to the terms of the sale.

Interested bidders are required to pay a non-refundable participation fee of 100,000.00 P.

PSALM said the property is suitable for commercial land development and is accessible via the North Luzon Freeway, Subic-Clark-Tarlac Freeway, MaC Arthur Freeway and Jose Abad Santos Avenue. It is also close to community centers such as schools, hospitals and major shopping malls. PSALM said the successful bidder could redevelop the area for wholesale and retail stores, stores and supermarkets. The property may also benefit from the Manila-Clark rail system project, which will be completed in the last quarter of this year.

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