ISLAMABAD, Sept 6: The Privatization Commission is holding an open bidding here on Saturday for the sale of minimum of 90 per cent shares of Thatta Cement Company Limited (TCCL) on ‘as is where is’ basis.

The Privatization Commission had received eight expressions of interest (EoIs) from the prospective investors. A pre-bid conference was organized on September 4, for responding to the queries of the bidders and for a better understanding of the process and the transaction.

According to the Privatization Commission, Thatta Cement Company Ltd was incorporated in 1980 as a limited company under Companies Ordinance 1913 (now Companies Ordinance 1984) and is a wholly owned subsidiary of State Cement Corporation of Pakistan (Pvt) Limited (SCCP).

The unit is located at 115km in the North East of Karachi at Makli Ghulamullah road, district Thatta. The plant is based on dry technology and has capacity of 1000 tons per day production. The entire plant and machinery was imported from Mitsubishi Corporation Japan, while the slag-grinding mill has been supplied by HMC.

The plant started commercial production in December 1982 and is fully operative. Its main products include Ordinary Portland Cement, Slag Cement and Sulphate Resisting Cement, while lime stone, clay/shale, iron ore, gypsum and slag are the inputs/raw material. The unit is located on 236 acres of land consisting of factory, officer and workers colonies complete with all facilities along with 4,725 acres of mining lease land (Quarry).