PC RECEIVES EIGHT EOI & SOQ FOR HAZARA PHOSPHATE FERTILIZERS LTD

Islamabad, January 16, 2007
Privatisation Commission has received eight (8) Expression of Interest and Statement of Qualifications from interested parties/ investors to participate in the privatisation process of Hazara Phosphate Fertilizers Ltd (HPFL). The Expressions of Interest was invited from prospective investors (fertilizers companies, industrial companies and groups, investors / consortium of investors who can evidence their ability to efficiently manage and operate the company) for the privatisation of minimum of 90% shares of Hazara Phosphate Fertilizers Ltd (HPFL) located at Haripur (NWFP) – 75 km from Islamabad. The factory is situated on 57 acres on developed land and includes factory, housing and other amenities.
 
Privatisation Commission received eight EOI & SoQ along with a non-refundable processing fee of Rs. 100,000/- (Rupees One Hundred Thousand Only) from 1.AL- TAWAIR GROUP OF COMPANIES Karachi 2. ALLAH DIN GRPOUP OF COMPANIES, (WARBLE [PVT] LIMITED), Lahore 3. ALPHA RESOURCES (PVT) LIMITED, Lahore 4 CARVAN MOTORS Karachi, 5. Consortium of Dr. Zaigham Dil Khan, Dr. Riaz Khan and Dr. A.J.Khan Aabbotabad 6.FARM FERTILIZER (PVT) LIMITED Lahore, 7.LILLEY INTERNATIONAL (PVT) LIMITED and 8. PAK STEEL Islamabad.
 
The conditions which shall be applicable to the Successful Bidder include the Purchaser shall continue to operate company’s manufacturing facility and shall not in any way abandon, cease to operate or otherwise shutdown the existing Company manufacturing facility, the cost of Golden Hand Shake Scheme (GHS) for permanent workers and Voluntary Separation Scheme (VSS) for the permanent executives will be shared equally between the new buyer and the Privatisation Commission and the bidder shall bid on the basis of audited accounts of June 2006 or the latest audited accounts available  and may also factor the latest un-audited accounts available prior to the bidding. Information Memorandum, Bid Documents, and a tentative time frame for the process will be provided to pre-qualified parties only. All matters including terms, conditions, warranties, indemnities relating to the privatisation process shall be communicated to all Qualified Bidders from time to time prior to the Bid Date.
 
National Fertilizer Corporation of Pakistan Limited (NFC) owns Hazara Phosphate Fertilizers Ltd (HPFL). It is an unlisted public company registered under the Companies Ordinance 1984. The authorized share capital comprises of 20 million ordinary shares of Rs. 10/- each whereas the issued, subscribed and paid up shares are 19.143 million of Rs. 10/- each i.e. Rs. 191.432 million.
 
HPFL produces Granular Single Super Phosphate (GSSP). The Sulphuric Acid required for the production of GSSP is also produced within the unit. The plant was rehabilitated and re-commissioned in April 1999. The production capacity is: Granular Single Super Phosphate (GSSP) 90,000 Metric Ton Per Annum and Sulphuric Acid 30,000 Metric Ton Per Annum. The marketing of the product is carried out by NFC’s subsidiary company, National Fertilizer Marketing Limited (NFML).