The Power Sector Assets and Liabilities Management Corp. (PSALM) is bidding out a 139,054-square meter property in Limay, Bataan.
PSALM set the minimum bid price of P250,425,045 for the property located in barangays Luz and Kitang II divided into 14 lots which used to be the site of the decommissioned Bataan thermal power plant and of the housing compound for the plant’s employees.
However, PSALM said there are few structures and other improvements on the assets but are no longer usable unless repaired.
PSALM said the Bataan asset is ideal for industrial development and energy-related projects due to its proximity to the Limay substation with some parts viable for residential purposes as the terrain of the land is generally flat with rolling portions and accessible from public markets, commercial centersand schools.
The bidding will be on an as-is, where-is basis with thedeadline and opening of submissions set on November 5. A pre-bid conference will also be held on October 12 to provideprospective bidders to raise questions about the properties and the terms of sale.
Interested parties are also required to pay a non-refundable participation fee worth P100,000. – Jed Macapagal
