Army Foundation has called off the international bid it floated for the procurement of rebar. The foundation had opened the bid on November 14, 2017 and it was estimated to cost 600 million Birr. The reason, according to Fortune, was insufficient foreign currency for the bid.

The bid was for the procurement of 25,000 tons of rebars. When the bid was opened there were 7 companies that had submitted their technical documents. From all the 7 companies, it was only 1 that was a local firm, Tsehay Industries.

The Foundation had also floated another international bid on December 6, 2017, for the procurement of furniture worth 26 million Birr that will be used to a hotel in Meqelle. This is despite that the countries law forbids international bids unless the procurement is worth more than 50 million Birr.

Source: Fortune