The Privatization & Public Enterprises Supervising Agency’s (PPESA) tender to privatize state owned enterprises again failed to attract bidders, Fortune reported.

The Agency put Caustic Soda S.C. and Ethiopian Mineral Development S.C. on the auction block in October, however it failed to attract not even a single bidder.

 “The sum total of people who bought the bid document in this auction was more than 40, but no one put forward a price,” said Asebe Kebede, deputy communication head at the PPESA.

The Agency has offered both enterprises for sale, however, this was the first time that the Ethiopian Mineral Development S.C had been offered for full privatization, according to Fortune.

The Privatization & Public Enterprises Supervising Agency is targeting to offer 18 state owned enterprises for sale during the current fiscal year. So far, the Agency has offered seven enterprises, including Weyra Transport S.C, Transport Construction Design S.C, Addis Abeba Ghion Hotel.

Source: Fortune