Montenegro Calls Second Tender for Electric Appliances Manufacturer Obod - Paper

Interested bidders can place offers by November 21, Republika reported.

The tender is open to companies and consortia with experience in manufacturing which have reported a turnover of at least 30 million euro ($44.1 million) for 2007 and a profit in the last three years. Bidders should deposit 300,000 euro with an international bank with a credit rating of at least BBB awarded by a global rating agency.

Potential buyers can carry out due dilligence ar Obod between September 29 and November 14.

The buyer will be required to pay in cash the contracted price.

The cabinet in Podgorica owns 22.7% in Obod, the Pension and Disabled Insurance Fund (PIO) owns 15.1%, the state Development Fund controls 8.85% and the Employment Institute has 5.0%.

Obod’s capital is valued at 16.2 million euro by the state.

The previous tender for Obod failed as no interested bidders showed up.

($ = 0.6798 euro)