06 Nov 2021
The Power Sector Assets and Liabilities Management Corporation (PSALM) has adjusted the deadline for the submission of bids for its real estate assets located in Brgys. Luz and Kitang II in Limay, Bataan from 05 November to 09 November 2021.
The deadline was adjusted to give ample time for all the interested parties to undertake thorough due diligence on the assets, allowing them an opportunity to do site visit, to review pertinent documents and to revisit their business plans vis-à-vis PSALM’s sale requirements.
The sale of the Limay assets shall be on an “As-Is, Where-Is” basis, with the PSALM Board-approved Minimum Bid Price set at PHP250,425,045.00. The bidding will be conducted at the PSALM office at the 24th Floor Vertis North Corporate Center 1, North Avenue, Quezon City at 2:00 PM of 09 November 2021. The opening and evaluation of bids will immediately follow at 2:15 PM.
During the preparatory stages of the bidding, several parties have expressed interest in joining the bidding and acquiring the Limay assets. To date, PSALM has six (6) registered bidders for this sale, namely, Pan Pacific Renewable Power Phils. Corporation, Ms. Laylani Latina De Vera, Fort Pilar Energy, Inc., Panasia Energy Inc., Cordillera Hydro Corporation and Bellagio Holdings, Inc.
The Limay assets cover an estimated area of 139,054 square meters, more or less, divided into 14 lots. These 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.
Interested parties may download the bidding package for the Bataan properties through the PSALM website at https://www.psalm.gov.ph.
Corporate Communications Division