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A pre-bid meeting held here today for the privatisation of Pak American
Fertilizers Limited (PAFL) decided to hold bidding for PAFL on February 28,
2006 at Islamabad. Mr. M. Tahsin Khan Iqbal Federal Secretary Ministry of
Privatisation & Investment chaired the meeting.
During the meeting the queries of the prospective bidders were also responded
by the representatives of the respective Ministries and the departments and
the bidders were informed regarding the bidding process, which will be held in
the presence of the representatives of the print and electronic media.
Eight (8) parties, which have completed the due diligence of the transaction
participated in the pre bid meeting. The parties are (i) Associated Group,
Lahore (ii) Bestwary Cement Ltd, Islamabad (iii) Dawood Hercules Chemicals
Ltd, Lahore (iv) Ibrahim Fibres Ltd, Faisalabad (v) Jahangir Siddiqui Capital
Markets Ltd, Karachi, (vi) Kohinoor Textile Mills Ltd & Associates, Lahore
(vii) Nishat (Chunian) Ltd, Lahore (viii) Pak Arab Fertilizers (Pvt) Ltd,
Multan
Pak American Fertilizers Limited (PAFL) is located at Iskanderabad (Daudkhel),
Distt: Mianwali and produces 1050 metric tons of urea per day. PAFL is the
subsidiary of National Fertilizer Corporation of Pakistan (NFC). Japan Bank of
International Cooperation (JBIC) provided loan for setting up the fertilizer
plant. The plant was commissioned in 1999. akamerican Fertilizers (Private)
Limited (PAFL) is the first fertiliser manufacturing concern in Pakistan. It
was established in 1959. The old plant was closed down in 1997 and a new
Ammonia/Urea Plant commenced commercial production in 1999. The new plant is
designed to produce 600 Ton/Day Ammonia and 1,050 Ton/Day urea using natural
gas as feed and fuel.
Both plants have been designed by TOYO Engineering Japan. Ammonia plant is
under license from Kellogg International, USA, while urea plant is TEC's own.
The plants are latest in design and most modern. The company possesses over
11,481 Kanals of land, comprising 6,432 for Factory, 2,818 for Housing Colony
and 2,230 for experimental farm.