05 Oct 2021
The Power Sector Assets and Liabilities Management Corporation (PSALM) is selling its real estate assets located in Brgys. Luz and Kitang II in Limay, Bataan through public bidding. These assets cover an estimated area of 139,054 square meters divided into 14 lots.
The Bataan assets are ideal for industrial development and energy-related projects due to its proximity to the Limay Substation. Some parts can be developed for residential purposes as the terrain of the land is generally flat with rolling portions. Public markets, commercial centers and schools are also accessible from their location.
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.
The subject sale will be on an “As-Is, Where-Is” basis. The Minimum Bid Price set by the PSALM Board for the Bataan real estate assets is PHP250,425,045.00. The deadline for the submission of bids is on 05 November 2021, 2:00 PM after which the opening and evaluation of bids will immediately follow. Remittance of the full purchase price is expected within ten (10) business days from the date of winning bidder’s receipt of the Notice of Award.
A pre-bid conference will be held on 12 October 2021 at 2:00 PM to provide an opportunity for prospective bidders to raise questions about the properties and the terms of sale. The bidding will be conducted at the PSALM’s office at the 24th Floor Vertis North Corporate Center 1, North Avenue, Quezon City. Proceedings will also be shown by virtual means for those who cannot attend in person.
An interested party is required to pay a non-refundable participation fee in the amount of PHP100,000.00 until two (2) business days before the bid submission deadline. Interested parties may download the bidding package for the Bataan properties through the PSALM website at https://www.psalm.gov.ph.
Corporate Communications Division