Bid Ethiopia

The Commercial Bank of Ethiopia (CBE) by the power vested to it under proclamation nos. 97/98 and 98/98 would like to foreclose the following various fixed and movable assets of Birale Agricultural Development Pvt. Ltd. Co. The loan account shows Br. 87,144,311.63 (Eighty Seven million one hundred forty four thousand three hundred eleven and sixty three cents) as at June 30, 2004.

Address of the farm

The irrigation farm is located in South Omo Zone, Hamer Bona Woreda of Gisma Enchete and Duma farmers kebele association. The farm is mechanized agriculture and is located at a distance of 665 kms from Addis Ababa and 170 kms from Arba Minch and 90 km from Jinka.

Lease period of the Farm

The land leased for 50 years, from 1994-2044 at a rate of Br. 30 per hectare per year from the Southern Nations, Nationalities and Peoples Regional Government:

General overview of the farm

? The mechanized farm has produced mainly cotton and broomcorn.

? The land is nearly flat and fit for mechanized framing and adjacent to the farm, there is large piece of land that could be used for various crop productions if expansion is considered.

? The altitude of the farm ranges from 520-560 meters above sea level and the weather condition is hot. The minimum annual temperature is 16⁰c while the maximum temperature is 39⁰c. The average annual rainfall is 557 mm and relative humidity ranges from minimum 60% up to maximum of 85%.

? The causal labours are abundant around the farm so that all-manual works could be done with minimum cost.

? The farm has modern agricultural equipment and irrigation infrastructure development and conducive for the production of various low land crops.

Main production of the farm

? The products are cotton, sesame seed, Soya bean, and various low land crops, fruits and vegetables.

? 2710 hectares of the land has irrigation infrastructure.

? For the last three years the average yield of raw cotton achieved per hectare is 37 quintals.

? The construction of storage reservoir with a capacity of 12 million m³ is under way. This would facilitate the expansion of the irrigation farm.

Properties presented for auction

1. In the premises of Birale Agricultural Development:

1. • 5490 hectares of leased land

   • Various Buildings constructed on the site

   • All agricultural machineries with  accessories

   • Construction machineries, dump trucks and concrete mixer

   • Workshop tools and equipment

   • Generators and fuel station and

   • Any other properties in the farm

2. Birale Edible oil Factory (Addis Ababa)

The oil mill is located at Woreda 19 Kebele 58 H.No. 369 (The former Akaki Edible Oil Factory). The total area of the compound is 25,558 m². The properties to be foreclosed are all buildings and machineries. The theoretical production capacity of the plant is 56 ton per 24 hrs.

3. Birale Ginnery Plant (Addis Ababa)

The factory is located in Kality area woreda 27 kebele 11 H. No.  New. The total area of the compound is 25,590m² out of which 10, 590m² leased from Addis Ababa Administration Lease Office and the rest purchased from individuals. The Factory includes garages, fuel station and a weight bridge. The type of ginnery plant is Lummus Imperial model 700 American made with theoretical ginning capacity of 150 tons of raw cotton in 24 hrs.

4. Various light and heavy duty trucks

Auction floor price, opening place and Date

All properties  mentioned under no. 1,2, 3, and4 i.e. agricultural farming , oil mill, ginnery factories and various light heavy duty trucks total auction floor prices is Birr 86, 697, 432.24 (Eighty six million six Hundred ninety seven thousand four hundred thirty two and twenty four cents) and the  auction  is on  31/08/2004 at 9-11 AM.

For those interested buyers who want to participate separately

A. Birale Agricultural Development  (5, 490 hectares leased land) with  its movable and immovable properties auction floor prices is Birr 65,224,340.56 (Sixty five million tow hundred twenty four thousand three hundred forty and fifty six cents) and the auction is on  01/09/2004 at 9-11 AM.

B. Birale Edible Oil Factory in Addis Ababa auction floor price is Birr 6,393, 282.60 (Six million three hundred ninety three thousand two hundred eighty two and sixty cents) and the auction is on 02/09/2004 at 9-11 AM.

C. Birale Ginnery Factory in Addis Ababa auction floor price is Birr 10,988,468.88 (Ten million nine hundred eighty eight thousand four hundred sixty eight and eighty eight cents) and the auction is on 03/09/2004 at 9-11 AM.

D. Various light heavy duty trucks in the premises of Birale Ginnery Factory. For detail see the following table.

No.	Borrower	Branch	Plate Number	Vechicle type & Model	Initial floor price	Auction
						Date	Time
1	Birale Agricultural Development Pvt.Ltd. Co.	Finfine	3-21800	Scania Truck	180,576	6/9/04	9:00-11:00
2	Birale Agricultural Development Pvt.Ltd. Co.	Finfine	3-21806	Scania Truck	284,323.60	6/9/04	9:00-11:00
3	Birale Agricultural Development Pvt.Ltd. Co.	Finfine	3-21799	Scania Truck	176,061.60	6/9/04	9:00-11:00
4	Birale Agricultural Development Pvt.Ltd. Co.	Finfine	3-21811	Scania Truck	277,215.51	6/9/04	2:00-4:00
5	Birale Agricultural Development Pvt.Ltd. Co.	Finfine	3-21812	Scania Truck	273,661.46	6/9/04	2:00-4:00
6	Birale Agricultural Development Pvt.Ltd. Co.	Finfine	3-21801	Scania Truck	171,547.20	6/9/04	2:00-4:00
7	Birale Agricultural Development Pvt.Ltd. Co.	Finfine	3-21810	Scania Truck	273,661.46	7/9/04	9:00-4:00
8	Birale Agricultural Development Pvt.Ltd. Co.	Finfine	3-21808	Scania Truck	180,576	7/9/04	9:00-4:00
9	Birale Agricultural Development Pvt.Ltd. Co.	Finfine	3-21813	Scania Truck	248,783.15	7/9/04	9:00-4:00
10	Birale Agricultural Development Pvt.Ltd. Co.	Finfine	3-21802	Scania Truck	200,138.40	7/9/04	2:00-4:00
11	Birale Agricultural Development Pvt.Ltd. Co.	Finfine	3-21803	Scania Dump Truck	227,670.44	7/9/04	2:00-4:00
12	Birale Agricultural Development Pvt.Ltd. Co.	Finfine	3-18509	Toyota Hilux 2.8 D	85,008	7/9/04	2:00-4:00
13	Birale Agricultural Development Pvt.Ltd. Co.	Finfine	3-18510	Toyota Landcruiser	34,850.75	8/9/04	9:00-11:00
14	Birale Agricultural Development Pvt.Ltd. Co.	Finfine	3-18508	Toyota Hilux 2.8 D	97,152	8/9/04	9:00-11:00
15	Birale Agricultural Development Pvt.Ltd. Co.	Finfine	3-18533	Toyota Minibus	72,611	8/9/04	9:00-11:00
16	Birale Agricultural Development Pvt.Ltd. Co.	Finfine	3-07737	Rolefo Trailer	166,561.92	8/9/04	2:00-4:00
17	Birale Agricultural Development Pvt.Ltd. Co.	Finfine	3-07732	Rolefo Trailer	193,505.76	8/9/04	2:00-4:00
18	Birale Agricultural Development Pvt.Ltd. Co.	Finfine	3-07738	Rolefo Trailer	121,478.40	8/9/04	2:00-4:00
19	Birale Agricultural Development Pvt.Ltd. Co.	Finfine	3-07735	Rolefo Trailer	191,086.93	9/9/04	9:00-11:00
20	Birale Agricultural Development Pvt.Ltd. Co.	Finfine	3-07733	Rolefo Trailer	115,404.48	9/9/04	9:00-11:00
21	Birale Agricultural Development Pvt.Ltd. Co.	Finfine	3-07736	Rolefo Trailer	66,583.29	9/9/04	9:00-11:00
22	Birale Agricultural Development Pvt.Ltd. Co.	Finfine	3-07734	Rolefo Trailer	191,086.93	9/9/04	2:00-4:00
23	Birale Agricultural Development Pvt.Ltd. Co.	Finfine	3-07731	Rolefo Trailer	193.505.76	9/9/04	2:00-4:00
24	Birale Agricultural Development Pvt.Ltd. Co.	Finfine	3-07739	Maru Trailer	68,290.56	9/9/04	2:00-4:00

Interested bidders or their representatives shall present 25% of floor price as a bid bond in the form of CPO issued in the name of CBE Foreclosure Division. If the winner fails to pay the full amount within 15 days, the bid  bond  shall be forfeited. The auction shall be opened at Bank’s Employees Club of the Head Office of the Commercial Bank of Ethiopia opposite to Ras Shell. Bidders may obtain additional information from the Foreclosure Division of Commercial Bank of Ethiopia located at the second floor of the Development Bank of Ethiopia.

For further inquiry Telephone No. 251-1- 52 51 27 or 50 60 20 or 50 60 22

Commercial Bank of Ethiopia

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