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The Privatisation Commission has invited Expression of Interest (EOI) from
the interested parties for the sale on 'as is where is' basis of the assets
including plant, machinery and equipment of Lasbella Textile Mills (LTM),
project of Iran Pakistan Industries (Pvt) Limited (IPI) situated at Uthal,
District Lasbella, Balouchistan.
The interested parties have been asked to apply along with non-refundable
processing fee latest by December 31, 2005. The parties submitting EOI will be
given the list of the machinery. Interested parties can inspect the machinery
on any working day during office hours on prior appointment with Privatisation
Commission or Iran Pakistan Industries, Karachi.
The machinery is part of fully integrated units of 50,000 spindles and 1100
looms with complete dyeing and finishing facilities. The plant was set up in
1976 and it started production in January 1980 but was closed down in 1983. As
such the machinery has been barely used and well maintained.
A pre-bid conference will be tentatively held in the last week of January 2006
for better understanding of the transaction and the bidding process.