Second tender announced for sale of Adriatic Shipyard "Bijela" – strict terms for future buyers

The second tender for sale of 61.57% of stocks of Adriatic Shipyard "Bijela" was announced yesterday (October 10, 2007) by the Agency for Economy Restructuring and Foreign Investments of Government of Montenegro. The tender will be opened prior to December 21, and the value of the capital of Shipyard is estimated to 32m EUR.

All companies that deal with repair of ships and shipbuilding, maritime transportation or maintenance and production of yachts and megayachts for at least 5 years can participate in this tender.

Participation in the tender is also possible if bidder does not meet these requirements, but then he must prove that his annual turnover in the last business year amounted to 300m EUR, which actually confirms that the bidder has potential for carrying out and development of activities of the Shipyard.

Interested potential buyer must also prove that he realized profit in the past three years, he must submit guarantee for bid or proof of payment of deposit in amount of 350,000 EUR.

The bidder who buys tender documentation can form consortium under condition that at least one member meets conditions defined by the tender.

There were no interested bidders on the tender that was announced last year.