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The Privatisation Commission is holding a bidding for the sale of 96.34 %
shares of Javedan Cement Limited (JCL) on September 14, 2005 (Wednesday) at
Islamabad. A pre-bid meeting was organised on September 3, 2005 to create
better understanding of the transaction and the bidding process and to respond
to the queries of the potential buyers. The status of various relevant legal
cases was also conveyed to the participants.
The Privatisation Commission has taken serious note of the mischievous reports
by certain quarters who were spreading totally baseless and wrong information
regarding the bidding of the transaction for their vested interest. The
bidding will be held on the scheduled target date.
The Privatisation Commission (PC) had received 43 Expression of Interest (EOI)
from interested parties for the privatisation of Javedan Cement Limited (JCL)
on an "AS IS WHERE IS" basis through the sale of its 96.34 % 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 acres in the
Manghopir hills alongwith 3159 acres of Mining lease land (Quarry).
The Company started the production of cement in 1964 with 500 tonnes per day
capacity and currently the rated capacity of the plant is 600,000 tonnes per
annum. The plant is based on the latest technology of cement manufacturing
involving suspension pre-heater and short dry process kiln. Presently JCL as
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.