DJ Kenya Sugar Firms' Sale Process Delayed For A Month -Newspaper

NAIROBI (Dow Jones)--The planned invitation of bids from potential strategic investors in Kenya's state-run sugar mills earmarked for privatization has been delayed for at least a month, the Business Daily reports Wednesday, citing the agriculture minister.

A blueprint released in January by the agriculture ministry to guide the privatization process of Miwani, Chemelil, Nzoia, Sony and Muhoroni sugar factories indicated that investors would be invited to place bids by the end of February and contracts signed with the successful parties by June, the daily said.

But as the February deadline set by Agriculture Minister William Ruto lapsed, no calls for bids had been made, the paper reports.

"We are slightly behind schedule by a couple of weeks or so but we hope to present the papers to cabinet any time now. The announcement of calls for the bids will come at least a month later once the process through cabinet are (sic.) complete," Ruto is reported as saying.

Full Story: www.businessdailyafrica.com/Company%20Industry/-/539550/871872/-/t2tl04z/-/index.html

-By George Mwangi; contributing to Dow Jones Newswires; +254 735 781 853; gmwangi0@gmail.com

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(END) Dow Jones Newswires

March 03, 2010 07:41 ET (12:41 GMT)

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