PSALM moves to feasibility study on redevelopment of NPC complex

Published December 20, 2019, 10:00 PM By Myrna M. Velasco

https://business.mb.com.ph/2019/12/20/psalm-moves-to-feasibility-study-on-redevelopment-of-npc-complex/

State-run Power Sector Assets and Liabilities Management Corporation (PSALM) is set to award the consultancy work on the redevelopment of the National Power Corporation (NPC) complex to multinational service firm PricewaterhouseCoopers.

“At the moment, we’re doing post-qualification activities. After that if everything is okay, then hopefully by December 13, we will be able to issue the notice to proceed to PwC,” PSALM President Irene Joy Garcia has told reporters.

She said the feasibility study will have to be anchored on the winning piece of the design contest that the government firm had earlier carried out.

“The instruction of the DOF (Department of Finance) is to start now the process of a feasibility study,” Garcia said, adding that PwC will be given 120 days to complete the process. The cost of the study had been pegged at ₱5.98 million.
PSALM board is chaired by Finance Secretary Carlos Dominguez III, hence, the state-run company generally takes direction from the finance department on carrying out its functions.

When the feasibility study is concluded, the PSALM chief executive emphasized that such will then serve as its basis in coming up with the proposed “privatization plan” for the 5.195-hectare Napocor complex.

Initial concept treads on having it aligned for mixed-use development that shall be taking its cue from what was done at the Fort Bonifacio complex in Taguig.

PSALM earlier selected WTA Design Studio’s submission entitled “The East Grid” as the winning conceptual design to be the template in transforming the Diliman property into a commercial center with mixed used high-rise developments.
The company said it had given premium to that particular design because of “its multi-dimensional people-oriented concept of developing a new environmentally-friendly business center.”

In that development prototype, the design was able to integrate “energy efficient systems and innovative and sustainable design ideas;” and at the same time, the entry assimilated pedestrian-friendly spaces.

This early, the property is already being lined up for accreditation as an economic zone. Beyond the targeted commercial building-locators in the area, this will also be housing different offices of state-run energy firms and agencies, including that of NPC and the National Transmission Corporation (TransCo).