August 22, 2003	Friday	Jumadi-us-Sani 23, 1424

ISLAMABAD, Aug 21: The Privatization Commission held a pre-bid meeting here on Thursday for the sale of assets of Associated Cement (Rohri) Limited.

The Privatization Commission had invited fresh EoIs in the first week of August in addition to the earlier received EoIs, and had requested those interested parties who could not submit EoIs earlier to avail this opportunity.

The Privatization Commission has now received a total number of 25 EoIs that reflects great interest in the transaction by the investors. The parties, which had submitted EoIs were not required to apply afresh.

The names of 25 interested parties are: A A Enterprises, Karachi; Ahmed Iqbal and others, Karachi; Ali Industrial and Engineering Works, Karachi; Barkati Textile Industries/Mian Amin Trading Est, Karachi; Bismillah Maritime Breaker, Karachi; Brother’s Enterprises, Quetta; Classic Builders, Karachi; D.G. Khan Cement Company, Lahore; Export International, Karachi; Fatima Enterprise, Sukkur; First Capital Equities, Islamabad; Happy Trading Co, Karachi; Lasbela Cement Limited, Karachi; National Transport Company, Karachi; Nawaz Khan Trading Company, Lahore; Newage Textile (Pvt) Limited, Karachi; Sadaf Enterprise, Karachi; Star Cotton Corporation Limited, Karachi; Suresh Kumar and Brothers, Daharki; United Bank Limited, Karachi; Universal Navigation and Trading Ltd; Al-Hamza Ship Breaking Company; Bestway Cement Limited; Jamal-ud-din and Company; and Razi Enterprises.

The bidders were given adequate time for conducting their own due diligence following which they were invited to pre-bid meeting to address their queries and concerns regarding the transaction. The Privatization Commission and the related departments satisfactorily responded to the clarifications sought by some participants.

Associated Cement has a production capacity of 270,000 tons per annum. The company owns about 195.3 acres of purchased land (which includes some portion which are encroached). It also owns 24.45 acres of agriculture a land located in the vicinity. The plant is located on an area of about 86 acres. Of the land under residential colony, 127 acres are well developed.

All required infrastructure facilities are also available on the site. The factory is located 7 km from Sukkur. The payment of the Golden Handshake to its employees has already been finalized without any burden on the buyer. The factory was closed down in 1999.