Philippine
Daily Inquirer / 05:10 AM January 12, 2019
Power Sector Assets and
Liabilities Management Corp. (PSALM) has called for offers for the negotiated
sale of a 2.1-hectare property that hosted the Manila Thermal Power Plant in
Paco, Manila, at a floor price of P736.37 million.
The state firm said
interested parties should notify PSALM of their interest in an acceptance of
negotiation procedure no later than Jan. 23, and that offers must be submitted
by noon of Jan. 31.
PSALM made the
announcement following the failure of two rounds of bidding held in August and
November last year.
The property—located in
Isla de Provisor in Paco, Manila—is composed of eight lots totaling 20,975
square meters, or more than two ha.
The power plant
itself—which has two units that can each generate up to 100 megawatts of
electricity—was decommissioned prior to its sale to Malaysia-based Gagasan
Steel in 2008 for $2.5 million.
Last year, Psalm said
the sale of the real estate property was primarily aimed at augmenting its
funding sources that would be used in servicing assumed financial obligations.
As of June 2018, Psalm
has privatized P918.5 billion worth of assets, of which amount 59 percent, or
P545.3 billion, has been collected.
Also, Psalm has reduced
its obligations by about two-thirds to P449.4 billion as of June 2018, from
P1.24 trillion when the state firm was created 15 years ago. —RONNEL W. DOMINGO
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