The group to be auctioned consists of a packing plant and six shrimp farms. (Photo: Andah.org/FIS)
Shrimp group at auction for USD 8.7 million
Wednesday, May 16, 2012, 04:20 (GMT + 9)
The Government of Honduras approved an agreement for the auction process of Hondufarms-Ibermar shrimp group to be prepared with a base price of HNL 170 million (USD 8.7 million).
A source at the Ministry of Finance told El Heraldo newspaper that 41 permanent employees working in the packing plant located in San Lorenzo (Valle) and in the six farms located in Marcovia (Choluteca) will be dismissed on 31 May.
The packing plant is called Ibermar and the six farms are Hondufarms, Culcasa, Exmar, Fincamar, Acuatec, CWYC and Camarón.
It is anticipated that the administration council of Hondufarms-Ibermar chaired by the Undersecretary of Finance, Carlos Borjas, is calling the auction process in June this year.
As soon as the process is open, natural and legal persons that are interested may withdraw the bases once their financial offers are submitted.
The administration council has two other options: lease-purchase and public-private partnership, according to the newspaper La Prensa.
The same source states the best solution for this shrimp firm group would be to sell through a public auction in order to conclude legal disputes.
Meanwhile, some organizations such as the National Aquaculture Association of Honduras (Andah), asked the Government to expedite the privatization of the aquaculture group.
Among those interested in purchasing the shrimp firm there are several business groups linked to the aquaculture industry; a group of MPs and government officials; permanent workers, temporary employees and residents of areas where the farms operate; and a consortium from United States.
Hondufarms-Ibermar group's assets, which belonged to Corporate Bank SA (Bancorp) in the past, have long been disputed among officials, politicians, entrepreneurs and workers.
By Analia Murias