27 March 1998
Nepalese tea estate privatisation gets under way
THEe bidding process for the privatisation of seven Government-owned tea estates in Nepal closes this week.
The Government has received 33 bids for the estates from companies in India, Sri Lanka, the UK and Nepal.
The winning bid is likely to be selected by the end of April. Some 65% of the equity will be transferred to the winner by July.
The estates have been under control of the National Tea Development Corporation since 1966 and produce more than 1m kg of crush, tear and curl tea.
- Financial Times 27/03/98 page 33