PC invites EOI for HPFL by January 15

ISLAMABAD—On the request of the investors and the keen interest indicated by them in Hazara Phosphate Fertilizers Ltd (HPFL) the Privatisation Commission has now extended another opportunity to the investors to participate in the privatisation process of Hazara Phosphate Fertilizers Ltd (HPFL).
The Expressions of Interest has been invited from prospective investors (fertilizers companies, industrial companies and groups, investors / consortium of investors who can evidence their ability to efficiently manage and operate the company) for the privatisation of minimum of 90% shares of Hazara Phosphate Fertilizers Ltd (HPFL) located at Haripur (NWFP) - 75 km from Islamabad. The factory is situated on 57 acres on developed land and includes factory, housing and other amenities. The EoI and Statement of Qualification document can be sent latest by January 15, 2007 along with a non-refundable processing fee of Rs. 100,000/- (Rupees One Hundred Thousand Only) to the Privatisation Commission. All parties submitting EoI would be sent Statement of Qualification for response, which shall form the basis of pre-qualification.
Parties, which have already submitted EoI with the requisite processing fee in response to the earlier advertisement, are not required to submit a fresh EoI. They should obtain the Request of Statement of Qualification (RSOQ) document from Privatisation Commission free of charge in order to file the same by January 15, 2007. It shall be mandatory to submit SOQ document in order to be eligible to take part in the fresh bidding process.
The conditions which shall be applicable to the Successful Bidder include 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 Company 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 time frame for the process will be provided to pre-qualified parties only. All matters including terms, conditions, warranties, indemnities relating to the privatisation process shall be communicated to all Qualified Bidders from time to time prior to the Bid Date.
The PC has asked the investors to provide the details as name of Company / group and its background information, Audited financial statements for the preceding three years, Details of ownership/group structure along with copies of Computerized National Identity Card (CNIC) of the Directors / Partners, Name, Address, Telephone, Mobile, Fax, Email of the Focal Person to be contacted, Pending litigation against the Company and the Director(s) and Individual investors or consortium of investors to particularly state that they are applying as investors and provide two bank references to confirm their net worth for the last three years.—Online