.: Montenegro Asks Abu Dhabi Mar To Elaborate on Its Bid for Bijela Shipyard by Feb 10

Tuesday, February 24, 2009

Montenegro Asks Abu Dhabi Mar To Elaborate on Its Bid for Bijela Shipyard by Feb 10

PODGORICA (Montenegro), January 21 (SeeNews) - Montenegro has asked Abu Dhabi Mar, the sole candidate to buy 61.57% of its biggest ship repairer Jadransko Brodogradiliste Bijela, to elaborate on its bid by February 10, Podgorica-based Vijesti daily reported on Wednesday.

Abu Dhabi Mar has offered to pay 4.0 million euro for the majority stake and to invest at least a further 22 million euro, Vijesti reported.
Should Abu Dhabi Mar (www.abudhabimar.com) fail to elaborate on its business and social plans for the shipyard it wants to acquire, their offer will be rejected, which would also mean a failure of Montenegro’s third attempt to sell it, Vijesti said.

Officials from the government's asset-selling agency were unavailable to comment.
Montenegro opened the tender for the shipyard in November after its second attempt to sell Bijela failed in June when the first-ranked bidder, a consortium comprising Channel Islands-registered C&S.I and Mercury Distribution, and the second-ranked bidder, a consortium of Russian mine sweeper repairer Avangard Shipyard and Avangard Bank, both withdrew from the sale talks.

C&S.I and Mercury Distribution withdrew due to an ongoing litigation against the Montenegrin shipyard by Greek company Zambounis, launched after a Zambounis tanker partly sank in the Montenegrin port of Bijela while awaiting repairs. The privatisation agency did not say why the second-ranked bidder had quit the talks.
C&S.I and Mercury Distribution had offered to pay 7.1 million euro ($9.3 million) for the majority stake and to invest a further 40 million euro in the shipyard. Avangard had offered to pay 4.0 million euro for the stake and to invest a further 30 million euro.

Jadransko Brodogradiliste (www.asybijela.com), set up in 1927, is located in the Adriatic town of Bijela. It is completely equipped for repairing and reconstructing ships and other vessels, of all types and for all purposes, of up to 120,000 deadweight tonnes. It has two floating docks of 250 metres and 184 metres in length, respectively, and an operating wharf of 1,120 metres.

The remaining stake of 38.43% in the shipyard is in the hands of minority shareholders.

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New York Times article published May 21, 1911

"ALBANIAN JOAN OF ARC: Handsome Heroine Takes Father's Place and Vanquishes Turks" – Cetinja, May 21, 1911 - A young girl, whose first name corresponds to that of the given name of the Maid of Orleans, is now being sung in the songs of the Montenegrin bards in the inns and coffee houses in Podgorica. When at the battle of Vranje last week, her father, the hereditary commander of his clan, fell, she immediately stepped to his place and led the Martinajs to victory against the Turks. Aside from the romantic phase of the affair, for Janitza Martinaj (Tringa e Grudes) is very beautiful, the battle is important as showing that the Montenegrins on the frontier had joined with the Albanians. According to a person who is well acquainted with her, this new Joan of Arc is “a tall, handsome, well-developed young woman. All the Albanian women are brave, and are trained from their girlhood to the use of firearms, and in times of war, as there are no mules, they carry the provisions and ammunition for their soldiers and go into the firing line to distribute them.” “And are sometimes killed?” “Yes, often that happens.” Janitza would probably have carried a Martini rifle; or, as many of the Marininis were collected last year by the Turks, her weapon may perhaps have been one of the old-fashioned Albanian rifles, which are handsomely decorated with silver and have very long, narrow barrels. Shooting is almost the only amusement of the young men and women in Albania. Both boys and girls learn to shoot when they are 12 years old. At weddings the parties amuse themselves by dancing and shooting: at christenings shootings is again the principal amusement – firing at large targets for some little prize – and at festivals there is shooting all day long. It’s one of the great difficulties that Turks have to contend with, for it is part of the national life; the people use their rifles by day and sleep with them by their side by night. The custom has grown up with the prevailing insecurity from vendettas at home and border troubles abroad. Physically, the Albanians are the finest race in Europe. Their women are handsome, with dark hair, though their eyes are sometimes gray. To see them walk is a delight. We like to see the ballet in Servia. The first time I saw the Albanians walk it gave me just the same pleasure. Their movements are so graceful, elegance and strength together. Yes, they are a very fine and very gifted race. They are like the Scots in the 17th century, and they will be by and by the finest race, intellectually as well as physically, in the Balkans. If you go to Constantinople you will find that many of the finest men, not only soldiers but also statesmen are Albanians. Their fault, due to their present degree of civilization, is that they cannot grasp the idea of State. The clan is their highest organization; they are unable to see the importance of combining the clan with the higher organization of making a state. But that will come.

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Tuesday, February 24, 2009

Montenegro Asks Abu Dhabi Mar To Elaborate on Its Bid for Bijela Shipyard by Feb 10

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