Bid Announcement
The Development Bank of Ethiopia intends to sell the following projecnouncemered pursuant to the power vested in it by proclamation No. 97/98, 1147/2019 and 216/92 to defaulted loans.
|
Sr.N |
Borrower’s Guarantor’s Name |
Property Location |
Type of property |
Plot size
|
Level of Bid Type |
Bid Type |
Bid Floor price |
Date and Time of Bid |
|
1 |
MNS Manufacturing PLC
|
Oromia Regional State Government Finefine Special Administration Zone, Legetafo Legedadi Town
|
Textile Factory Building. Machineries and Equipment, Electric Works, Vehicles, Inventory Goods and others
|
106,638.95 m2
|
First |
Negotiation |
2,306,801,435.60 |
June 17,2024 From 10:00 AM-12:00 AM |
|
2 |
Majang AgroIndustry PLC |
Gambella Regional State, Magang Zone, Mengesh Wereda, Ashene & Baya Kebele
|
Irrigation farm consisting of Buildings, Farm Machineries & Equipment's, Vehicles, and 484 hectares of Banana plantation
|
1,000 hectare |
Special |
Negotation |
241,180,405.31 |
June 18,2024 From 10:00 AM-12:00 AM |
Instructions:
1. Interested bidders can purchase a complete bidding document for each property, during the office hours from the Ongoing Concern Projects and Acquired Asset Management Directorate of the Bank upon payment of non-refundable fee of Birr 100.00 (Birr One Hundred) in cash to Corporate Branch, and fill out the bid document with their name, the price they are going to offer and other information as required by the accompanying format. The complete Wax-sealed bid document should be received, until June 17, 2024, 1:50 PM for MNS Manufacturing PLC, Majang Agro-Industry PLC, until June 18, 2024 9:50AM through bid boxes placed in the Bank's Head Office, second tower, ground floor starting from the third day of publication of this notice announcement.
2. Bidders shall submit 10% (ten percent) of the floor price only in CPO as a bid security.
3. A winner shall pay the total winning price within 15(Fifteen) calendar days. Failure to pay within the specified time period shall be a cause for loss of a bid security and cancellation of the award.
4. The Bid shall take place at the Head office of Development Bank of Ethiopia on the date and time specified in the table above.
5. The winner is required to pay 15% VAT (Fifteen Percent Value Added Tax), and all other legal and administrative fees and charges in accordance with applica- tion lows.
6. Some component of the properties have been procured under duty free privileges. Thus, the winner needs to either have matching customer duty exemption privilege or shall bound to pay the outstanding duties.
7. Since the operations of the projects have been continued, on the top of winning price, the buyer is required to take inventory items (item in transit, raw materials
& finished goods in stock) through negotiation based on the floor price to be determined by the bank at the time of handing over of the property.
8. The bank wishes to sell all properties in cash; nonetheless, the winner can apply for a loan facility for the unpaid balance as per the
Bank's Credit Policy and Procedure.
9. The winner is required to take over all permanent employees of the establishment along with their right and benefits.
10. Only the bidders or their legal representatives will be allowed to attend the bid process.
11. Interested and eligible bidders may obtain more information from the Development Bank of Ethiopia Project Ongoing Concern Projects and Acquired Assets Management Directorate 2nd Tower 3rd Floor or through telephone 011-524-53-73/011-524-42-69.
The Bank can arrange a pre-scheduled visit for interested bidders, up on prior notice to the Directorate.
12. The Bank reserves the right to cancel the bid partially or fully.
THE DEVELOPMENT BANK OF ETHIOPIA
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