The Maldives Industrial Fisheries Company (MIFCO), which operates the Felivaru Fisheries Complex (FFC), has decided to auction off old scrap metal and used oil stored at the complex.
MIFCO plans to auction an estimated 70 metric tonnes of junk scrap, 124 metric tonnes of TFS scrap metal, and 90 barrels of used oil located in Felivaru. As these are estimated quantities and subject to change, MIFCO has requested interested parties to contact Felivaru at 7679060 to clarify details regarding the items.
MIFCO opened the opportunity today for interested buyers to participate in the auction. Registration can be completed via the company's email bid@mifco.mv before 11:00 am tomorrow. Registered parties must place a security deposit of MVR 25,000. The deposit must be transferred to MIFCO's bank account between 13:00 and 16:00 on the 16th of this month, and the company stated that payments made after the designated time will not be accepted. MIFCO noted that the deposit will be refunded to unsuccessful bidders. For the winning bidder, the deposit amount will be deducted from their final payment.
MIFCO stated that the auction will be held at 11:00 am on the 17th of this month in the meeting room of the company's head office. The auction will commence with the highest written bid submitted per metric tonne of scrap metal and per litre of used oil, and will proceed among the attendees. MIFCO added that parties who do not submit their initial bid in a sealed envelope will not be allowed to participate in the auction.
