Mumias Sugar Company receiver-manager, Ponangipalli Venkata Rao, has re-advertised a lease deal for the KSh15 billion assets of the debt-ridden sugar firm.
Parties interested in placing their bids have until 31st August 2021 to submit the applications after a similar exercise failed in June.
According to an advert placed in the local dailies, the firm’s assets will be leased out on an ‘as-is-where-is’ basis. Additionally, interested parties will be allowed to inspect the conditions of the assets prior.
The receiver-manager called for bidders to invest in any of the company’s sugar factory, nucleus estate, mineral water plant, ethanol plant, golf course, clubhouse, residential estate, among other movable properties.
In June this year, Devki Group of Companies Chairman Narendra Raval withdrew his privately-placed bid, citing political interference.
KCB Group placed Mumias sugar under receivership in September 2019, seeking to recover billions of shillings the sugar firm owes it.