Sale of Machineries and equipment, Office Furniture and Generator of MK Engineering PLC - Development Bank of Ethiopia
Development Bank of Ethiopia (የኢትዮጵያ ልማት ባንክ)
Bid Announcement
The Development Bank of Ethiopia intends to sell the following properties that it has acquired from a defaulter pursuant to the power vested in it by Proclamation No. 97/98, 216/2000 and 1147/2019.
| S.N | Name of former Borrower's/ Guarantor's Name | Type (catgory) of Properties | Name of Machinery | Bid Floor Price (Birr) | Property location | Bid Type | Date and Time of Bid |
| 1 | MK Engineering PLC | Machineries and equipment | Wood work machines (Surface planner m/c, Circular saw m/c,Edge bending m/c,Copy lathe m/c, Combined surface or thickness planner m/c etc) | Birr 6,185,295.80 (Six Million one hundred eighty five thousand two hundred ninty five birr and eighteen cents) | Gelan town in the - M2K Engineering Factory Premises | Negotiation | November 02,2026 from 10:00-12:00 AM |
| 2 | MK Engineering PLC | Machineries and equipment | Metal work Machines (lathe m/c,universal milling m/c,press brake m/c, scroll bending m/c, hydraulic bending m/c, motor unit,tube drilling m/c etc) | Birr 26,174,644.44 (Twenty six million one hundred seventy four thousand six hundred fourty four birr and fourty four cents) | Gelan town in the - M2K Engineering Factory Premises | Negotiation | November 02,2026 from 10:00-12:00 AM |
| 4 | MK Engineering PLC | Machineries and equipment | Stone work Machines (Special shaped stone polishing,multi-blade bridge block cutter m/c,stone surface thickness calibrating m/e etc) | Birr 1,701,600.00 (One million seven hundred one thousand six hundred birr) | Gelan town in the - M2K Engineering Factory Premises | Negotiation | November 02,2026 from 10:00-12:00 AM |
| 5 | MK Engineering PLC | Office Furniture | Birr 650,051.00 (Six Hundred Fifty Thousand Fifty One Birr) | Gelan town in the - M2K Engineering Factory Premises | Negotiation | November 02,2026 from 10:00-12:00 AM | |
| 6 | MK Engineering PLC | Generator | Birr 697,151.00 (Six Hundred Ninty Seven Thousand One Hundred Fifty One Birr) | Gelan town in the - M2K Engineering Factory Premises | Negotiation | November 02,2026 from 10:00-12:00 AM |
Instruction to bidders:-
- Interested bidders can obtain a complete bid document of the property, during office hours of the Bank upon payment of non-refundable fee of Birr 100.00 (Birr One Hundred) in cash, and fill out the bid document with their name, the offer price and other information as required by the format. The complete Wax-sealed bid document shall be received until November 02, 2026 9:50 A.M through bid placed at the Bank's Head Office, second tower, ground floor starting from the third day of publication of this bid announcement. The bids shall open on November 02,2026 at 10:00 A.M
- Bidders shall submit 10% ( ten percent) of the floor price of the properties only in CPO as a bid security.
- A winner shall deposit the remaining winning price in full within 15 (Fifteen) calendar days from the date of award. Failure to deposit the amount within the specified time frame shall be a cause for loss of a bid security and cancellation of the award (bid).
- The bid shall take place at the Head Office of the Development Bank of Ethiopia, Tower Two, 5th Floor, on the date and time specified in the table above. Only the bidders or their authorized legal representatives shall be allowed to attend the bid process
- The winner is required to pay 15% VAT (Fifteen Percent Value Added Tax), and all other legal and administrative fees and charges in accordance with applicable laws.
- Some components of the properties have been procured under duty free scheme. Thus, the winner should either have matching custom duty exemption privilege or else shall be bound to pay the outstanding duties & taxes.
- The Bank intends to sell the properties on a cash basis only.
- The bank will write a letter to the concerned government body to facilitate transfer of the title of the properties to the buyer. It shall be the buyer's responsibility to follow-through the process and get it finalised.
- The winner shall cover all costs of dismantling, loading unloading and transporting the properties to own distination.
- The properties are availed for sale separately as indicated under their respective serial numbers.
- bidders can obtain more information from the Development Bank of Ethiopia, Ongoing Concern Projects and Acquired Assets Management Directorate, 2nd Tower 3rd Floor or through telephone 011-524-53-73/011-524-42-69.
- Bidders can also visit the properties by making an appointment with the bank in advance..
- The Bank reserves the right to cancel the bid partially or fully.
DEVELOPMENT BANK OF ETHIOPIA
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The Development Bank of Ethiopia is selling machinery (wood, metal, and stone working machines), office furniture, and a generator from MK Engineering PLC, located in Gelan town. Bids are by negotiation; bidders must pay a non-refundable Birr 100 fee, submit a CPO bid security, and cover VAT, duties, and transport costs.
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