Ulcinj-based salt works on sale for EUR 179 mil

The bankruptcy management of the Montenegrin Salt works Bajo Sekulic, announced a tender for the sales of the entire company property at the initial price of EUR 179 mil.

So far, ten sales tenders have been unsuccessfully released and at the tender the price is EUR 11 mil lower than in the previous one Cdm.me portal reports.

Property comprising land, office buildings, electrical and energy facilities and water supply and gas supply systems facilities, canals is to be sold. All the property is in the Ulcinj municipality, on 14,5 mil square meters as well as technological and office equipment, construction machinery and transport means.

All companies and citizens from the country and abroad which pay a deposit for participation totaling one percent of the initial price or deliver a guarantee of a business bank for the stated value, which cannot be recalled and which is payable on the first call, have the right to participate in the public competition.

In 2005, due to debt of EUR 13,000, programmed bankruptcy was introduced which did not provide result so in early 2011, a classical bankruptcy was introduced. In November 2011, the Government took away concession for sea water use from the salt works.