Offers are invited for rehabilitation of a company engaged in the operations of two multipurpose deep sea fishing vessels off Visakhapatnam Coast and a Shrimp/Fish Processing plant at Visakhapatnam.

ICICI Limited, as an Operating Agency (OA) of the Board for Industrial and Financial Reconstruction (BIFR) , invites offers for rehabilitation of a sick company with facilities of two multipurpose deep sea fishing vessels with a fish hold capacity of about 100 cubic metre each (approximately 45 tonnes) off Vizag Coast and a shrimp/fish processing plant having freezing facilities like Plate Freezer (1500 MTPA), Blast Freezer (1500 MTPA) and Individual Quick Freezer (600 MTPA) and a cold storage of capacity 170 tonnes. The rehabilitation proposal may include proposal for sale of assets /change of management.

The OA will be guided, inter alia, by the following main considerations while evaluating the offers from interested parties:

1. Track record of the party;
2. Acceptability to institutions and BIFR;
3. Willingness and ability to bring in maximum funds from own sources;
4. Experience in the industry;
5. Minimum reliefs/concessions from institutions, banks, state and central governments etc.

The OA reserves the right to accept or reject any offer without assigning any reason.

Interested parties may submit their proposals within 4 weeks from the date of this advertisement to Shri D.A.Biwalkar , Senior Vice-President, ICICI Limited, Marine Group, C-23, "G" Block, North East Wing, 8th Floor, Bandra Kurla Complex, Bandra (E), Mumbai 400 051. Tel : 6531414 Dir - 6536807 Fax : 6531235

Mumbai
March 26, 1999