STATE-RUN Power Sector Assets and Liabilities Management Corp. (PSALM) said it is set to hold the second round of public bids for the sale of a 50,447-square-meter real estate asset in Mexico, Pampanga.

“The minimum bid price for the property set by the PSALM Board is P741.33 million. Interested bidders may participate and bid for the Mexico property inclusive of the warehouse structures and other land improvements,” PSALM said in an e-mailed statement over the weekend.

The bidding will be on an “as-is, where-is” basis, and full remittance of the payment is expected.

PSALM will be holding a pre-bid conference at 2:00 p.m. on Sept. 15. The event intends to address questions of prospective bidders related to the terms of the sale.

“An interested party is required to pay a non-refundable participation fee in the amount of P100,000 until two business days before the bid submission deadline,” it said.

The deadline of bid submissions is on Oct. 20 at 2:00 p.m., and the opening of bids will immediately follow.

The property, which is located in Brgy. Lagundi, consists of one lot known as “Lot No. 552” and is covered by a clean title, PSALM said. The property was the site of the National Power Corp.’s (Napocor) transshipment warehouse facility for generation and transmission projects.

Under the Electric Power Industry Reform Act of 2001, Napocor transferred the property to PSALM.

“The property is appropriate for commercial land development and is highly accessible via the North Luzon Expressway, Subic-Clark-Tarlac Expressway, MacArthur Highway, and Jose Abad Santos Avenue. It is in close proximity to community centers like schools, hospitals, and major shopping malls,” the state-run entity said.

According to PSALM, the new owner of the Pampanga asset can re-develop the area to build wholesale and retail stores, shops, and supermarkets. It added that the property may also benefit from the planned Manila-Clark railway system, which is slated for completion within the fourth quarter this year.

Proceeds from the sale will help settle the financial obligations assumed by PSALM from Napocor. — Angelica Y. Yang