ISLAMABAD, July 26: The Privatization Commission has invited expressions of interest (EoIs) from interested parties to privatize Javedan Cement Limited (JCL) on ‘as is where is’ basis through the sale of its 96.34 per cent shares held by the State Cement Corporation of Pakistan (Pvt) Ltd (SCCP), the holding company. According to the Privatization Commission, JCL is a public limited company listed on Karachi Stock Exchange since 1962 and registered under the Companies Ordinance 1913 (now Companies Ordinance 1984).
Javedan Cement is located in the north of Karachi over an area of 1,200 acres at the Manghopir hills along with 3,159 acres of mining lease land (Quarry). The company started the production of cement in 1964 with a capacity of 500 tons per day and currently the rated capacity of the plant is 600,000 tons per year. The plant is based on the latest technology of cement manufacturing involving suspension pre-heater and short dry process kiln.
At present JCL has three kilns, including the first dry process plant installed in Pakistan in 1980. Its main products include ordinary Portland cement, slag cement and sulphate resistant cement. While its inputs/raw materials include lime stone, clay/shale, iron ore, gypsum and slag.
The Privatization Commission has asked the interested parties to furnish their EoIs along with a non-refundable processing fee latest by August 6. The interested parties submitting EoIs will be provided summary profile free of cost by the Privatization Commission.
A detailed information memorandum, bid documents and time frame for the pre-bid conference and bidding date will be provided to the parties who furnished their EoIs in form, time and manner as the Privatization Commission deems fit. They will be given opportunity to visit the site on any working day on prior appointment with the Privatization Commission.
