PSALM sets minimum bid price for Manila Thermal Power Plant land property

10 Aug 2018

The Power Sector Assets and Liabilities Management Corporation (PSALM) is republishing its Invitation to Bid (ITB) on 8 to 10 August 2018 for the sale of the Manila Thermal Power Plant (MTPP) Land setting the Board approved minimum bid price for the property at PHP885,746,650.00.

PSALM clarified that the recent ITB does not refer to a new project, but merely intends to inform interested bidders of the land’s minimum bid price. Further, it aims to invite more bidders to participate in the bidding. It can be recalled that the first ITB, published on 5 to 7 December 2017, did not disclose the minimum bid price which was not set at that time.

Any bid below the minimum bid price will be automatically rejected during bid opening. Interested parties are likewise informed that the property will be sold on an “as is”, where is” basis.

Bidding is open to individuals and sole proprietorships, partnerships or corporation, joint ventures or consortiums, government corporate entities and local government units authorized by law to acquire, own, hold or develop real properties in the Philippines. If the bidder or any of its components is a corporation, it must be duly registered and organized under the laws of the Philippines and at least 60% Filipino-owned.

The property is situated in Isla de Provisor along the Pasig River in Paco, Manila. Comprised of eight lots, the property has an approximate area of 20,975 square meters.

The sale of the real estate property is primarily aimed at augmenting its funding sources which will be used in servicing assumed financial obligations.

Corporate Communications Division
Tel. No. (632) 9029067