Firms given more time to submit bids for FTI

The deadline for submission of bids for the 74-hectare portion of the Food Terminal Inc. property in Taguig City has been pushed back by almost a week to August 14 upon the request of interested bidders.

The Privatization Management Office on Thursday announced that the bidding date was rescheduled from the original deadline of August 8.

The postponement of “four business days (is meant) to accommodate investor requests for an extension of the due diligence period,” the PMO said in a statement.

Also, the agency said rescheduling would “give bidders more time to study additional information on the property.”

The PMO said additional documents were made available to bidders in response to questions raised during a pre-bid conference held last July 20.

“Bidders have until 11:30 a.m. of Aug. 14 to submit their bid proposals to the bids and awards committee,” the PMO added.

Last month, the PMO said bidding for the FTI property would finally push through, with all seven interested parties having been pre-qualified to bid.

These are Robinson’s Land Corp., Empire East Land, Ayala Land Inc., Rockwell Land Corp., Century Properties Group Inc., SM Land Inc. and Filinvest Land Inc.

In 2009 the government’s offer was for 103 hectares of the 120-hectare property.

Back then, the bidding failed as none of the interested parties submitted bids.

This time around, the PMO said it would conduct a workshop to help bidders prepare for the submission of bid envelopes to prevent technical violations, as part of efforts to minimize delays and “to complete the transaction seamlessly.”

“PMO continues to coordinate with other government agencies to ensure that the privatization of FTI complements the broad array of infrastructure building and agriculture initiatives of the government,” Singson said.

She added that the remaining parcels of the FTI complex would be used for other purposes, including an integrated bus terminal that is under construction.

The bus depot, placed under the Department of Transportation and Communications and the Department of Public Works and Highways, will occupy five hectares.

The PMO said privatization of FTI’s 74 hectares was aimed at “generat(ing) a surge in economic activity in the area, improve transportation linkages and boost employment opportunities.”

Further, Singson said proceeds of the sale would go to the Department of Agrarian Reform for the Comprehensive Agrarian Reform Program and the Department of Agriculture.