January 18, 2007	Thursday	Zilhaj 27, 1427

ISLAMABAD, Jan 17: The Privatization Commission has received ten expressions of interest (EoIs) and statements of qualification (SoQ) from interested parties to participate in the privatization process of the Heavy Electrical Complex (HEC).

The interested parties included ABB (Pvt) Ltd; Areva T&D Pakistan (Pvt) Ltd; ICC (Pvt) Ltd; Iljin Heavy Industries Co. Ltd, through: Seven A's Corporation; Lahore Polypropylene Industries (Pvt) Ltd; Pak-Electron Limited; Noor Financial Investment Company; Sahfi Associates; Shahzad International, and Siemens (Pakistan) Engineering Company Ltd.

A pre-qualification committee will now evaluate these parties for pre-qualification on the basis of information submitted by them in the statement of qualification. The Privatization Commission had invited EoIs from prospective investors -- mechanical engineering, electrical engineering and or industrial companies and groups, consortium of investors with demonstratable ability to own, efficiently manage and operate the company -- for the acquisition of minimum 90 per cent shares of the Heavy Electrical Complex (HEC), together with management control on an ‘as is, where is’ basis.

The Heavy Electrical Complex (HEC) is one of the industrial units of the State Engineering Corporation engaged in the manufacturing of power transformers of different types (total annual capacity 3000 MVA) with primary voltage rating of 66 and 132 KV.—APP