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The second two day road show is being opened from February 23 to 24, 2006
at London, UK to brief the investors regarding the privatisation of country's
largest natural gas transmission and distribution companies i.e. Sui Northern
Gas Pipeline Company Limited (SNGPL) and Sui Southern Gas Company (SSGC) under
the auspices of the Privatisation Commission. Mr. M. Tahsin Khan Iqbal
Secretary Privatisation Commission will address the road show and hold
meetings with the leading players, groups of leading investors of oil & gas
and energy sector. The Financial Advisors for both the transaction will also
give detailed presentations to the investors.
Owing to the overwhelming response for the privatisation of Sui Northern Gas
Pipeline (SNGPL) and Sui Southern Gas Company (SSGC) from the prospective
parties from Pakistan and abroad the Privatisation Commission (PC) had
extended the last date for submission of Statement of Qualification (SOQs) for
both SNGPL and SSGC to March 11, 2006. The Privatisation Commission had
solicited Expression of Interest (EOIs) for the privatisation of SNGPL and
SSGC on the December 14, 2005 and January 4, 2006 respectively. Earlier, the
last date for submission of statement of Qualifications (SOQs) was set as
February 11, 2006 for SNGPL and March 4, 2006 for SSGC. All other conditions
will remain unchanged.
The Privatisation Commission invited Expression of Interest (EOI) from
qualified strategic investors to divest 51% shareholding in Sui Southern Gas
Company Limited (SSGC). SSGC offers significant potential for revenue and
earnings growth to an investor with the resources and expertise to operate gas
transmission, distribution, wholesale and retail businesses.
SSGC was formed in 1989, following a series of mergers of three pioneering
companies, namely Sui Gas Transmission Company Limited, Karachi Gas Company
Limited and Indus Gas Company Limited. SSGC is Pakistan's leading integrated
gas company with a franchise area covering the provinces of Sindh and
Balochistan serving more than 1.7 million consumers.
While Expression of Interest (EOI) were invited from qualified strategic
investors to divest 51% shareholding in Sui Northern Gas Company Limited
(SNGPL). SNGPL also offers significant potential for and earnings growth to an
investor with the resources and expertise to operate gas transmission,
distribution, wholesale and retail businesses.
SNGPL was incorporated in 1963 as a private limited company and was converted
to a public company in 1964. SNGPL is the largest gas transmission and
distribution company in Pakistan, with a franchise area comprising of the
provinces of Punjab and North West Frontier Province (NWFP) serving more than
2.3 million consumers. The company has 41 years of experience in operation and
maintenance of high-pressure gas and distribution and systems. Earlier, the
first road show was held in Singapore earlier this month.