ISLAMABAD, Aug 30: The Privatization Commission is holding a pre-bid meeting for the sale of 96.34 per cent shares in Javedan Cement Limited (JCL) on September 3, 2005.
According to a hand out, the meeting is being organized to create better understanding of the transaction and the bidding process and to respond to the queries of the potential buyers.
The Privatization Commission has received 43 Expressions of Interest (EOIs) from interested parties for the privatization of Javedan Cement Limited on an “as-is-where-is” basis through the sale of its 96.34 per cent shares held by State Cement Corporation of Pakistan (Pvt) Ltd. (SCCP) the holding Company.
JCL is a public limited company listed on Karachi Stock Exchange since 1962 and registered under the Companies Ordinance 1913 (now Companies Ordinance 1984). JCL is located north of Karachi over an area of 1200 acre of 1200 acres in the Manghopir hills along with 3159 acres of mining lease land (Quarry).
The company started the 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.
Its main products include Ordinary Portland cement, Slag cement and Sulphate resistant cement. While its Inputs/Raw Material include Lime Stone, Clay/Shale, Iron Ore, Gypsum and Slag.
The parties who submitted EOIs include: 1). AKD Capital ltd, 2) Al-Abass Group of Companies, 3) Al-Hamza Ship-breaking Company, 4) Al-Karam Textile Mills (Pvt) Ltd. 5) Alloy Steel Company, 6) Al-Munaf Steel Corporation, 7) Alpha Gamma Technologies Inc, 8) Amer Mahmood (Snr Manager Fin), 9) Aqeel Karim Dhedhi Securities , 10) Associated Group, 11) Atlas Investment Bank Ltd, 12) Bestway Cement Ltd, 13) Candyland Confectionery Division, 14) Cherat Cement Company Ltd, 15) Crescent Powertec Ltd. 16) D.G Khan Cement Company Ltd, 17) Equipment Technologies Ltd. 18) Fatima Enterprises Ltd (Textile Unit), 19) Gulistan Group companies, 20) Habib & Sons (pvt) Ltd, 21) Haji Ghani Usman & Group, 22.Javed Kiyani (Director Chanar Sugar Mills), 23) Javedan Cement Employees Management Group, 24) Multi Traders & Manufacturers, 25) Nassam Mult Links, 26) Newage Textile Pvt Ltd., 27) Noman Abid & Company, 28) Olympia chemical Ltd, 29) Pacific Chartering & Trading Pvt Ltd, 30) Pakistan Kuwait Investment Company Pvt Ltd, 31) PROCON (the PROJECT CONSULTANT), 32) Sadaf Enterprises, 33) Seatrade Group, 34) Shirazi Investment Pvt Ltd, 35) Siddiqons Group, 36) Silver textile Factory, 37) Sophia Textile Pvt Ltd, 38) Suzuki Carvan Motors, 39) The Momen Group, 40) Three Star Group of Companies, 41) Unique Trading Co. (Importers & Ship-breakers), 42) Usman Enterprises and Valibhai Kamruddin (SIND) Pvt Ltd.