Privatization Management Office Chief Privatization Officer Karen Singson said Monday that the government will again attempt to sell 74 hectares of the 103 ha. Food Terminal, Inc. property in Taguig City and publish the invitation to bid by next week amid three years of delay and three failed biddings.
"Everyone is invited to bid for the parcel. This is a straightforward property sale. Other parameters such as the minimum target selling price and prequalification requirements will be detailed at the bidding notice to be published on national newspapers," said Singson.
The Aquino administration hopes to sell the property at a price higher than the P7 to P9 billion price set by the previous government for the Food Terminal, Inc., or FTI, agro-industrial estate.
According to the Privatization Management Office, or PMO, part of the proceeds will go to the Department of Agriculture and the Department of Agrarian Reform’s Comprehensive Agrarian Reform Program.
The government will retain the balance of the property, 29 ha., for various purposes
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