THE Power Sector Assets and Liabilities Management Corp. (Psalm) successfully conducted the pre-bid conference for its property in Mexico, Pampanga at a minimum price of P741 million as part of the process for the second round of public bidding.

The pre-bid conference is a venue for prospective bidders to raise their issues, concerns and clarifications on the terms and conditions of the public bidding for the asset.

Two interested parties, namely Panasia Energy Inc. and Toplis Solutions Inc., participated in the said conference.

The bid submission deadline for this asset is set on Oct. 20, 2021 at 2 p.m., which will be followed immediately by the opening and evaluation of bids.

The Mexico property consists of a 50,447-square-meter lot. It is located within Barangay Lagundi, Mexico, Pampanga along Jose Abad Santos Avenue and is 2.5 kilometers from the North Luzon Expressway. It is suitable for residential or commercial real estate development.

The Board of Directors of Psalm approved the minimum bid price of P741.32 for the Mexico property.

“Only interested parties who paid the participation fee and submitted a duly executed Form of Acceptance of the Bidding Procedures will be allowed to participate in the bidding of said property,” Psalm said.

The proceeds from the sale of this asset will augment Psalm’s funds for the settlement of maturing obligations and reduction of the corporation’s outstanding financial obligations, it added.