ISLAMABAD, Oct 22: The Privatization Commission has invited expressions of interest (EoIs) from prospective investors for acquiring 90 per cent shares of Lyallpur Chemicals and Fertilizers Limited (LCFL).

The PC in a handout issued here on Saturday asked interested parties to send their EoIs latest by November 21, 2005 along with a non-refundable processing fee of Rs50,000.

It also asked the interested parties to indicate the name of company/group with details of ownership/group structure and corporate and constitutive documentation and audited financial accounts for the last three years along with the EOI.

Information memorandum, bid documents and a tentative timeframe for the sell-off process would be provided to pre-qualified parties only, the PC said.

The LCFL, located at Jaranwala, is wholly owned by the National Fertilizer Corporation of Pakistan (NFC). It is an unlisted public company registered under the Companies Ordinance 1984. The authorized, issued and paid-up capital of the company is Rs10 million with one 91 million share of Rs10 each.

LCFL produces powdered single super phosphate (SSP) and zinc sulphate. The sulphuric acid required for the production of both SSP and zinc sulphate is also produced within the unit.

The plant was rehabilitated and re-commissioned in May 1999. The production capacity include powdered SSP, 72,000 tons; sulphuric acid, 30,000 tons; and zinc sulphate, 1,500 tons per annum. The marketing of the products is carried out by NFC’s subsidiary company, National Fertilizer Marketing Limited (NFML).