ISLAMABAD, July 2: The Privatization Commission (PC) on Tuesday invited the prospective investors and business houses to submit their Expressions of Interest (EoIs) for acquiring a minimum of 85 per cent shares of Javedan Cement Limited (JCL).

According to an official announcement, JCL is a listed limited company registered under the Companies Ordinance 1913 (now Companies Ordinance 1984). The company is a subsidiary of the State Cement Corporation of Pakistan (Pvt) Limited.

JCL is located in the North of Karachi over an area of approximately 861 acres in the Manghopir hills along with 3,159 acres of mining lease land (quarry). The company started production of cement in 1964 with 500 tons per day capacity and currently the rated capacity of the plant is 600,000 tons per annum. The plant is based on the latest technology of cement manufacturing involving suspension pre-heater and short dry process kiln.

Presently JCL has three kilns including the first dry process plant installed in Pakistan in 1980. Ordinary Portland Cement, Slag Cement and Sulphate Resisting Cement are the main products of the company. The raw material includes limestone, clay/shale, iron ore, gypsum and slag.

The Commission has asked the interested parties to send their EoIs with investors profile and non-refundable processing fee latest by July 30.

A summary profile is available free of cost from the PC. A detailed information memorandum, bid documents, timeframe for the pre-bid conference and bidding date will only be provided to the parties submitting EoIs. Prospective investors can visit the site from Thursday (July 4) on any working day with prior appointment with PC or Managing Director, JCL.