ISLAMABAD, April 12: The Privatisation Commission is holding a pre-bid meeting on April 29 to answer the queries of prospective bidders for acquiring 90 per cent shares of Lyallpur Chemicals & Fertilizers Limited (LCFL).

According to a PC press release issued here on Wednesday, 17 parties had completed their due-diligence of the transaction. The PC had invited EoIs from prospective investors who can demonstrate their ability to efficiently manage and operate the company.

National Fertiliser Corporation of Pakistan Limited (NFC) is the owner of LCFL, which is an unlisted public company registered under the Companies Ordinance 1984. The authorised, issued and paid-up capital of the company is Rs10 million with one million share of Rs10 each.

LCFL, located at Jaranwala, produces powdered single super shosphate (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 annual production capacity of the company includes 72,000 tons of SSP (powdered), sulphuric acid 30,000 tons and zinc sulphate 1,500 tons. The marketing of the products is carried out by NFC’s subsidiary company, National Fertilizer Marketing Limited (NFML).