ISLAMABAD, Jan 16: The Privatisation Commission has received eight Expressions of Interest (EOIs) and Statement of Qualifications from interested parties to participate in the privatisation process of Hazara Phosphate Fertilizers Ltd (HPFL).
The EOIs ware invited from prospective investors (fertilizer companies, industrial companies and groups, investors/consortium of investors), who can evidence their ability to efficiency manage and operate the company, for the privatisation of minimum of 90 per cent shares of HPFL located at Haripur in NWFP.
The plant is situated on 57 acres of development land and includes the factory, housing and other amenities.
According to a hand out issued here on Tuesday the Privatisation Commission received eight EOIs and SoQs along with a non-refundable processing fee of Rs100,000 from Al-Tawair Group of Companies, Karachi; Allah Din Group of Companies (Warble (PVT) Limited), Lahore; Alpha Resources (Pvt) limited, Lahore; Carvan Motors Karachi; Consortium of Dr Zaigham Dil Khan, Dr Riaz Khan and Dr A.J.Khan Aabbotabad; Farm Fertilizer (Pvt) Limited, Lahore; Lilley International (Pvt) Limited; and Pak Steel Islamabad.
The conditions applicable to the successful bidder are: The purchaser shall continue to operate company`s manufacturing facility and shall not in any way abandon, cease to operate or otherwise shutdown the existing manufacturing facility; the cost of Golden Hand Shake scheme (GHS) for permanent workers and Voluntary Separation Scheme (VSS) for the permanent executives will be shared equally between the new buyer and the Privatisation Commission; and the bidder shall bid on the basis of audited accounts of June 2006 or the latest audited accounts available and may also factor the latest un-audited accounts available prior to the bidding.
Information memorandum, bid documents, and a tentative timeframe for the process will be provided to pre-qualified parties only.
All matters including terms and conditions, warranties, indemnities relating to the privatisation process shall be communicated to all qualified bidders from time to time prior to the bid date.
National Fertilizer Corporation of Pakistan Limited (NFC) owns the HPFL plant.
