By
Lenie Lectura - September 11, 2019
THE Power Sector Assets
and Liabilities Management Corp. (PSALM) will rebid its real-estate assets
(REAs) in Misamis Oriental, Cebu and Ilocos Norte after it declared last week’s
auction a failure.
The state firm said
there was only one bidder for each REAs in Barangay Aplaya, Jasaan, Misamis
Oriental, and Toledo City, Cebu. No one submitted bid offers for the Laoag City
asset. The auction was held last September 5.
“PSALM will rebid its
REAs…as soon as it has adjusted the bidding schedule and sought the approval of
the PSALM board to commence the second round of bidding,” said the state firm.
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 sq m. The asset in Laoag City has a
total area of about 3,530 sq m.
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.
“PSALM is committed to
privatize these land assets within 2019 but it is also important that the
adjusted bidding timetable expediting the second round of bidding is in line
with applicable laws,” PSALM President and CEO Irene Joy Besido-Garcia said.
Proceeds from the sale
of these assets will be used to augment funds to settle PSALM’s assumed
financial obligations.
In July, PSALM said it
was expecting to raise nearly P740 million from the sale of the REAs.
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