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Selection Process

EXPRESSION OF INTEREST STAGE

The Expression of Interest stage of the process is designed to make it easy for companies to show their interest in leasing or buying industrial plots. The Expression of Interest Form is open to all local and international companies. Expressions of interest will be reviewed based on the following criteria:

1. Compatibility With Industrial Estate: assessment of industrial classification or manufacturing activity based on requirements of the industrial estate in question.
2. Preliminary Appraisal of Company:
   Stability of Company: years in business, quality of business references, organization
   Type of Product: consistency with objectives of Industrial Estate, environmental impacts, and significance for the national economy (market competition, import substitution, export potential)
3. Job Creation Potential
4. Investment Amount Proposed
5. Space Requirements

APPLICATION STAGE AND INVESTOR SELECTION

Following the Stage One the review of the companies will be ranked and a short-list prepared. The short-listed companies will be invited to prepare and submit a formal Application Form for Purchase or Lease a plot. The applications will be evaluated based on the following criteria:

1. Strength of company: financial statement and experience
2. Adequacy of market analysis and business plan
3. Documented evidence of financing arrangements and availability of funds
4. Job creation by qualification levels, over the initial five years
5. Procurement status of production machinery
6. At this Stage, the number of investors will be ranked and the selected number of companies will exceed by 25% the number of prospective plots or building spaces that are available. This will ensure that enough replacement candidates are available in case selected investors decide not to proceed with the process.
   

NEGOTIATION OF SALE OR LEASE AGREEMENT

The selected investors will be invited to submit a formal competitive offer for the land price or lease rate. Each bid will be accompanied by the marked-up purchase agreement or lease agreement.

The highest bidders will be selected and negotiations of the lease or sale agreement will begin immediately. The companies will use this period of time to complete their project.

Once the agreement is signed, the investors can make their final financial arrangements and begin procurement of the plant, building works and other plot or building site improvements with full confidence that the required plots or building sites are available.