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The parties interested for the privatisation of Kohinoor Oil Mills Limited
(KOML) through the sale of upto 51 % shares on 'as is where is' basis, have
completed the due diligence process with necessary assistance from the Ghee
Corporation of Pakistan (GCP) and now they will assemble for the Second
pre-bid meeting at Privatisation Commission on April 13, 2004 at 1100 hrs. The
first Pre-Bid Conference in this regard was conducted on March 24.
Out of 19 parties who had submitted Expression Of Interest (EOI)s, 16 parties
participated in the first round of the pre-bid meeting. It was also decided in
the first round that the Date of bidding will be decided in the second round
of pre-bid meeting in consultation with the bidders after the completion of
the due diligence process. The liabilities owed to the Government upto the
date of transfer of this transaction will not be passed on to the successful
buyer.
KOML is situated on land measuring approx. 62.2 acres on main GT Road, Kala
Shah Kaku, Tehsil Ferozewala, Distt; Sheikhupura. It was converted into public
limited company in 1971 and nationalized in September 1973. All employees of
the unit were paid VSS/GHS in 1997.
The Mills vegetable Ghee Plant has a capacity to produce 27200 M. Ton of Ghee
while the Solvent Extraction Plant has annual rated capacity of 33000 M. Ton.
Unlike other Ghee Mills, this unit also has seed handling/ crushing equipment
as well as Solvent Extraction Plant (SEP). SEP was closed down in 1995 while
Ghee manufacturing was stopped in 1997. All employees of this unit were laid
off by paying GHS/VHS in 1997.
The 19 parties who had submitted EOIs include Al-Hamza Ship Breaking Company,
Karachi, Petrosin Engineering Pvt Ltd, Islamabad, Canal Associates, Lahore,
Sardar Muhammad Ashraf D. Baluch Pvt. Ltd, Karachi, Lilly International (Pvt)
Ltd, Islamabad, Treet Corporation Ltd, Lahore, Hashoo Group, Islamabad, M/s
Muhammad Humayun, Islamabad, A.A Enterprises, Karachi, Bara Ghee Mills, Bara,
Bismillah Textile Limited, Faisalabad, Kohinoor Sugar Group, Lahore, Afzal
Motors, Peshawar, Husnain Cotex Ltd, Lahore, Tahir Omer Industries (Pvt) Ltd,
Muridke, Ayub Brothers, Lahore, Arch Sons, Karachi, Kohisar Enterprises,
Karachi and Sartaj Roller Flour Mills, Lahore.