PC receives 13 EOIs for sale of HPFL

ISLAMABAD—The prospective investors have given very encouraging response by expressing interest for the acquisition of minimum of 90% shares of Hazara Phosphate Fertilizers (Private) Limited (HPFL) together with management control on ‘as is, where is’ basis. Privatisation Commission (‘PC’) has received thirteen (13) Expression of Interest (EOI) from interested parties by due date.
These parties include 1. Afzal Motors (Pvt.) Limited, Rawalpindi, 2. Akbar Brothers, Multan, 3. Farm Fertilizer (Pvt.) Limited, Lahore / Warble (Pvt.) Limited, Lahore. (However, both the parties have separately filed EOIs), 4. Grain Tech (Pvt.) Limited, Lahore, 5. ITHACA Capital (Pvt.) Limited, Karachi, 6. Ittehad Steel Group, Islamabad, 7. Khawaja Bashir Ahmad Group, Multan, 8. Kissan Chemicals & Fertilizers (Pvt.) Limited, Lahore, 9. National Steel Re-rolling Mills (Pvt.) Limited, Islamabad, 10. NH Pesticides Group International, Multan, 11. Niagara Mills (Pvt.) Limited, Faisalabad, 12. Oil Industries Pakistan (Pvt.) Limited, Karachi and 13. Pak American Fertilizer Limited, Lahore.
Expression of Interest (EOI) from interested parties have been received along with a non-refundable processing fee of Rs.100, 000/= (Rupees one hundred thousand only) for the acquisition of minimum of 90% shares of Hazara Phosphate Fertilizers (Private) Limited (HPFL) together with management control on ‘as is, where is’ basis. The parties, which have submitted EoIs are being sent Request for Statement of Qualification (RSOQ) document for response, which shall form the basis for pre-qualification. Closing date for submission of Statement of Qualification (SOQ) is December 22, 2007. Earnest money for qualification as a bidder shall be Rs.40, 000,000/= (Rupees forty million) All matters including terms and conditions relating to privatisation of HPFL shall be communicated to all qualified bidders from time to time prior to the bid date which shall form the basis for the bid.
The PC had invited EOIs from prospective investors i.e. companies or consortia engaged in manufacturing or engineering business who can demonstrate the ability to own and efficiently manage and operate the Company. The plant is located at Haripur (NWFP) - 75 km from Islamabad. The factory is situated on 57 acres of developed land and includes plant, housing and ancillary facilities. National Fertilizer Corporation of Pakistan (Private) Limited (NFC) owns Hazara Phosphate Fertilizers (Private) Limited.—Online