02 Jul 2019
The Power Sector Assets and Liabilities Management Corporation (PSALM) has initiated the privatization of land assets located in Barangay Aplaya, Jasaan, Misamis Oriental and in Toledo City, Cebu. The sale of these land assets is on an “as is, where is” basis.
The land asset in Aplaya, Misamis Oriental consists of 49 lots with a total area of about 155,504.00 square meters. The land asset in Toledo City, Cebu consists of 21 lots with a total area of about 129,589.00 square meters. PSALM set the minimum bid prices at PHP567,626,950.00 and PHP171,473,500.00, respectively.
These land assets used to be the location of the dismantled Aplaya Diesel Power Plant and the Cebu Diesel Power Plant. In 2009, PSALM privatized the power plant structures based on their scrap value and are now either on ground zero or with minimal structures left.
In an Invitation to Bid, PSALM announced that the land assets will be bid out on 01 August 2019.
Corporate Communications Division