ISLAMABAD, Dec 5: The Privatization Commission has invited expressions of interest (EoIs) for the sale of assets, including plant, machinery and equipment of Lasbella Textile Mills (LTM), a project of Iran Pakistan Industries (Pvt) Limited (IPI).

The interested parties have been asked to apply along with a non-refundable processing fee latest by December 31. The parties submitting the EoIs will be given the list of machinery.

The parties can inspect the machinery on any working day during office hours on prior appointment with Privatization Commission or Iran Pakistan Industries, Karachi.

The machinery, to be sold on ‘as is where is’ basis, is part of fully integrated units of 50,000 spindles and 1,100 looms with complete dyeing and finishing facilities. The plant was set up in 1976 and started production in January 1980 but was closed down in 1983.

A pre-bid conference will be tentatively held in the last week of January 2006 for better understanding of the transaction and bidding process.—APP