TWO companies are interested to bid for the Power Sector Assets and Liabilities Management Corp.’s (PSALM) property in Pampanga, the state firm said Thursday.
The PSALM Board is selling its 50,447-square-meter property in Mexico, Pampanga for P741.327 million.
Panasia Energy, Inc. and Toplis Solutions attended the prebid conference for the second round of public bidding for the asset. A prebid conference is a venue for prospective bidders to raise their issues and clarifications on the terms and conditions of the public bidding.
They have until October 20 to submit their bids. On the same day, their bids will be evaluated by PSALM.
PSALM said proceeds from the sale will augment funds for the settlement of maturing obligations and reduction of outstanding financial obligations.
As of end-June this year, PSALM’s financial obligations stood at P368.08 billion. It vowed to bring down its obligations to P358.72 billion this year.
PSALM has lined up more assets to be sold this year to help bring down debts.
It had just completed the successful bidding of its Paco-Manila property. The Manila Electric Company (Meralco) submitted the highest offer of P632,162,185.00.
“Next in line is the Pampanga property. Hopefully, that should happen in the next month. Also, we have some assets in Limay and in Baguio. Casecnan will be bid out by mid-September this year and, hopefully, we will award it in November,” said PSALM president Irene Joy B. Garcia.
The Mexico property is located within Barangay Lagundi, along Jose Abad Santos Avenue and is 25 kilometers from the North Luzon.
For the real estate assets in Baguio and Limay, Bataan, Garcia said her office is coordinating with the local government in Baguio City and is “finishing up the study in Bataan for a possible public bidding.”