PSALM to raise P803M from sale of Pampanga asset

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    The Power Sector Assets and Liabilities Management Corp. (PSALM) is selling its 50,447-square meter land in Mexico, Pampanga with a minimum bid price set at P803,151,000.

    Proceeds of the sale will be used to pay the remaining financial obligations it inherited from the National Power Corp. which stand at P422.01 billion as of end-last year.

    PSALM said the property has a clean title and its location is best suited for commercial land development.

    A pre-bidding conference will be held on September 24 with the deadline for submission of bids set on October 20.

    PSALM is also privatizing five real estate assets in General Santos City; Loboc, Bohol; Magdalena, Laguna; Sudipen, La Union; and in Camalaniugan, Cagayan with a bid submission deadline set on September 30. Those assets will fetch at least P56.5 million. – J. Macapagal