BIDDING for the sprawling Food Terminal, Inc. (FTI) in Taguig City will finally begin this month after years of delay and three failed biddings in the past, the Privatization Management Office (PMO) said on Monday.
“We intend to publish the invitation to bid notice by next week, at the latest,” PMO chief Karen Singson said.
“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,” she added.
The 103-hectare FTI ComplexÂ is one the largest and well-placed industrial complexes in Metro Manila. It currently caters to more than 300 companiesÂ by providingÂ industrial and commercial lots for medium-to-long term leases, and industrial buildings with standard-sized stalls for office, warehouse or small-scale processing operations.
Singson said only 74 hectares will be opened for auction with the remaining lots to be retained by the government for various purposes.
“The government will study its options for the unprivatized special economic zone area located within the FTI Complex, including the utilization of the same by the Department of Agriculture for food-sufficiency projects,” Singson explained.
Proceeds from the sale will also be channeled to the Agriculture department, she added, as well as to the Comprehensive Agrarian Reform Program initiatives.
“We expect economic activities in Taguig City and nearby areas to flourish as employment increases and transport linkages in the complex improves,” Singson said.
The FTI Complex lies 2.4 kilometres north of the Bicutan Interchange, 2.3 kilometres southeast of the Fort Bonifacio overpass, and about 4.4 kilometres southeast of EDSA. It is about 15 minutes’ drive from the Makati Central Business district and 20 minutes away from the Ninoy Aquino International Airport.