December 08, 2006	Friday	Ziqa'ad 16, 1427

ISLAMABAD, Dec 7: The Privatisation Commission has offered another opportunity to investors to participate in the privatisation of the Hazara Phosphate Fertilisers Ltd (HPFL), by inviting fresh Expressions of Interest from prospective buyers latest by Jan 15.

Investors, fertiliser companies, industrial establishments and groups, investors / consortium of investors have been invited to participate in the privatisation of a minimum of 90 per cent shares of the unit located at Haripur on 57 acres, including its factory, housing and other amenities.The EoI and statement of qualification can be sent with a non-refundable processing fee of Rs100,000 only to the Privatisation Commission, said a handout.

Those who had earlier submitted EoI with requisite processing fee are not required to submit a fresh one. They should obtain the request of statement of qualification document from the Privatisation Commission to file the same by Jan 15.

It shall be mandatory upon them to submit statement of qualification (SOQ) document to be eligible to take part in the fresh bidding process.

The conditions applicable to the successful bidder shall be as follows: the purchaser shall continue to operate company’s manufacturing facility and shall not in any way abandon, cease to operate or otherwise shutdown the existing company/ manufacturing facility; the cost of golden Hand-Shake Scheme (GHS) for permanent workers and Voluntary Separation Scheme (VSS) for permanent executives will be shared equally between the new buyer and the Privatisation Commission and the bidder shall submit his bid on the basis un-audited accounts available prior to the bidding; Information memorandum, bid documents and a tentative time-frame for the process will be provided to pre-qualified parties only.

All matters, including terms and conditions, warranties, indemnities relating to the privatisation process, shall be communicated to all qualified bidders from time to time prior to the bid date.

The National Fertiliser Corporation of Pakistan Limited (NFC) owns Hazara Phosphate Fertilisers Ltd (HPFL). It is an unlisted public company registered under the Companies Ordinance 1984.

The authorised share capital comprises 20 million ordinary shares of Rs10 each, whereas the issued, subscribed and paid-up shares are 19.143 million of R10 each, ie Rs19,432 million.

The HPFL produces Granular Single Super Phosphate (GSSP), and sulphuric acid required for the production of GSSP is also produced within the unit.

The plant was rehabilitated and re-commissioned in April 1999. The production capacity is: Granular Single Super Phosphate (GSSP) 90,000 Metric Ton per annum and sulphuric acid 30,000 metric ton per annum.

The marketing of the product is carried out by NFC’s subsidiary company, National Fertiliser Marketing Limited (NFML).

A summary profile of the company is available on the website of the Privatisation Commission under Hazara Phosphate Fertilisers Ltd (HPFL).