State-run Power Sector Assets and Liabilities Management Corp. said Monday it plans to bid out the feasibility study for the privatization of the 5.195-hectare Diliman property of National Power Corp. in Quezon City next month.
“We will start the procurement on the feasibility study preparation. We need to have the figures before we can decide on the structure of the deal,” PSALM president Irene Garcia said.
She said the procurement process including the submission of eligibility documents, shortlisting, pre-bid conference, submission of technical documents and submission and evaluation of bids was expected to be completed by end-November.
“Post-qualification process, issuance of notice of award and release of notice to proceed will happen in December. Thereafter, the winning bidder for the consultancy will commence the feasibility study proper,” Garcia said.
The feasibility study will determine the property’s marketability, validate the cost of investment and identify appropriate privatization schemes to attract prospective developers.
PSALM earlier said the winning architectural conceptual design for the development of the Diliman property would be subjected to the said feasibility study.
PSALM is mandated under the Electric Power Industry Reform Act of 2001 to privatize the assets of NAPOCOR.
PSALM previously selected the entry submitted by WTA Design Studio as the winning conceptual design for PSALM’s Diliman property after a three-day rigorous selection process held from July 3 to July 5.
The winning entry of WTA Design Studio titled “The East Grid” envisions to develop PSALM’s 5.195-hectare Diliman property into a mixed-use office development integrated with wellness and commercial elements and combined with energy efficient systems and innovative, sustainable design ideas.
“The conceptual design will serve as the basis for the master planning and privatization of the Diliman property. The privatization of the property aims to generate additional income for the payment of PSALM’s assumed liabilities,” the agency said.
WTA Design Studio received a cash prize of P4 million to cover all components of its entry design such as the architectural conceptualization and intellectual property, the submitted scale model, the CAD video walk-through, the study on the developmental and financial costing and other considerations to meet PSALM’s objective for the highest and best use for an environment-friendly and energy-efficient property.
“It will be an accredited economic zone that will also provide offices for PSALM, Napocor, TransCo and other members of the Energy family that would like to move to the said location,” PSALM said.